They’ll just put out list prices that are five to six times as high as what they’ll actually get. Just as companies did under Nixon’s wage and price controls.
Wife was admitted to the ER, then had treatments, admitted for 2 days. On Medicare. Original bill was $63,000. Medicare approval and total payments appx $1200. We are 9n the hook for our Medicare deductible of $1300. So a total of $2500 for a hospital that billed $63,000. How can the individual know what is a reasonable cost and what is not?
Possibly, but transparent pricing is an important component of a competitive healthcare market.
They already do that but the multiplier is in the 10 to 1000 range.
“They’ll just put out list prices that are five to six times as high as what they’ll actually get.”
That wouldn’t work with stations selling gas or grocers selling bread. Why do you think it would work for hospitals? Public pricing of a medical service would bring down the cost as hospitals compete for patients.
They’ll just put out list prices that are five to six times as high as what they’ll actually get.