Price Transparency: Empowering Patient Choice and Promoting Provider Competition.
Citation: Journal of Medical Systems. 44(4):80, 2020 Mar 05.PMID: 32140942Department: MedStar Georgetown University Hospital ResidentsForm of publication: Journal ArticleMedline article type(s): EditorialSubject headings: *Choice Behavior | *Delivery of Health Care/ec [Economics] | *Disclosure | *Health Expenditures | *Patient Preference | Quality Improvement | United StatesYear: 2020ISSN:- 0148-5598
Item type | Current library | Collection | Call number | Status | Date due | Barcode |
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Journal Article | MedStar Authors Catalog | Article | 32140942 | Available | 32140942 |
In light of recent health policy efforts to promote price transparency, this perspective reviews the challenges and benefits of price transparency. These price transparency efforts include the recent executive order and associated rulemaking directing providers to disclose negotiated and out-of-pocket costs for "shoppable" healthcare services. First, we explore the previous efforts of states and health plans targeted at price transparency, reviewing lessons for future implementation. Second, we address the value of price transparency in light of various policy concerns and objections. Finally, we jointly hypothesize potential effects of and opportunities presented by price transparency for patients, physicians, and other healthcare industry stakeholders.
English