Hospitals in the US will now have to show prices to patients ahead of time

[Nelson Vergel]

The New Year Will Bring More Transparency In Hospital Prices - The New Year Will Bring More Transparency In Hospital Prices

 

[txmx]

With forced transparency now, hoping for competition rather than collusion on pricing. Those who receive fat bonuses and commissions within the currently opaque system will not give them up easily.

 

[sammmy]

I'm not sure how this is going to work since the price they charge the insurance are everywhere fictitious and several times above the maximal price allowed by the insurance, which will depend on the insurance itself.

I've had cases when say the maximal allowed price by the insurance is $1000 and the hospital charges a fictitious $10,000. That matters if the insurance refuses to cover the procedure, in which case you are responsible for the full fictitious price. Clearly, comparison based on the fictitious prices is not going to work. The only working way is for the facility to give you a bill before the procedure, in agreement with your particular insurance.