Price transparency tools help patients understand the cost of medical treatment
How much should a consumer expect to pay for a facelift? Somewhere between $6,000 and $15,000, including an anesthesia fee of $1,000 to $1,300, and a hospital fee of $500 to $2,000, plus surgeon. That’s according to CostHelper.com, one of a number of comparative-pricing guidelines that consumers can consult prior to receiving treatment.
Transparency in medical pricing is here. Leading the charge is the Centers for Medicare & Medicaid Services. The agency releases data that summarize the utilization and payments for procedures and services provided to Medicare fee-for service beneficiaries by specific inpatient and outpatient hospitals, physicians, and other suppliers. The Medicare Provider Utilization and Payment Data set includes information for the 100 most common inpatient services, 30 common outpatient services, and all physician and other supplier procedures and services performed on 11 or more Medicare beneficiaries.
To access the data set, go to https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/Medicare-Provider-Charge-Data/Physician-and-Other-Supplier.html
But CMS isn’t the only one trying to shed some light on healthcare prices. A number of private, Internet-based companies are doing the same.
Price transparency products on the market today show significant evolution, according to a 2013 report by Catalyst for Payment Reform. Still, health plans and vendors have much work to do to help consumers understand cost and quality differences, and which choices bring the best overall value according to their preferences.
Here’s a look at three price transparency products on the market today.
CostHelper.com
Launched in 2006, CostHelper.com strives to give consumers prices on everything from robotic vacuum cleaners, to car battery chargers, to cat-teeth-cleaning, to wedding DJs. Its data comes from research conducted by CostHelper staff, as well as input from CostHelper users. Healthcare consumers can investigate prices on cancer treatment, skin care, general surgery, reproductive health and more.
Contemplating an STD test at the doctor’s office? Expect to pay somewhere between $50 and $200, says CostHelper, depending on the test.
Healthcare BlueBook
“What we do is simple – we help consumers save on healthcare expenses while helping Fair Price providers attract cost-conscious consumers,” says Healthcare BlueBook (www.healthcarebluebook.com). The website allows the user to search for prices for a variety of medical tests and procedures by zip code. And Healthcare BlueBook says it goes further, by promoting providers’ value propositions to local employers and consumers.
Live in Downtown Chicago? The fair price for a cardiac exercise stress test is $160, for both physician (interpretation) and technical (the test) fee, according to Healthcare BlueBook. Denver? $151.
Pricing Healthcare Inc.
Founded in 2012, Pricing Healthcare (www.pricinghealthcare.com) says that it gathers pricing information for healthcare providers and services, then allows consumers – for a subscription fee – to compare procedure-level prices across the healthcare facilities in their area. Unlimited price searches are said to be available to anyone willing to submit at least one medical bill item from the last two years.
Editor’s Note: To view the 2013 report, “The State of the Art of Price Transparency Tools and Solutions” from Catalyst for Payment Reform,” go to http://www.catalyzepaymentreform.org/images/documents/stateoftheart.pdf.
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