Blinded By Transparency
Transparency is one of the newer buzzwords used, it seems by everyone, including stakeholders in health care pricing. Unfortunately, when it comes to the pricing of some medical procedures, the secrecy is similar to the Cardinal Conclave choosing the Pope behind closed doors.
Steven Brill writing in Time Magazine has a fascinating report on this topic (and many others) including anecdotal pricing stories you won’t believe– like a 10,000% mark up on a generic Tylenol pill!
While medical pricing transparency might seem like a no brainer to the man on the street, many industry insiders continue to lobby for the status quo because–
Consumers just won’t understand,
Quality is hard to factor in,
It really won’t make a difference,
Hospitals’ competitive edges will be diminished.
There are SIX simple words that explains the byzantine maze that is healthcare pricing.
“It depends on who is paying”
At OMCA, we speak networks, we speak fee unbundling and we speak outcomes. We are able to navigate the labyrinth of pricing and help you control costs.
Chief Executive Officer