Will transparency in hospital pricing make a difference in how consumers seek out healthcare?
The Centers for Medicare and Medicaid Services has gathered details on the costs of the top 100 diagnoses and treatments and has made these costs public. The report details what individual hospitals charge Medicare and what Medicare actually pays.
The data show that the fees hospitals charge vary widely across the U.S. and even within cities. Hospitals will now be required to tell patients how much they charge for medical procedures. The objective is to foster competition and lower costs.
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