As healthcare prices are revealed, hospitals face hard choices

A recent study by RAND Corp. has shown large variances in hospital prices and quality for all procedures. As the fight by employers and patients for price transparency continues, Medxoom’s comparison shopping technology can help can help consumers navigate the system to help find highest quality lower cost hospitals in their region.

From Modern Healthcare:

We know there is little relationship between healthcare prices and quality and that there is great variation in both. And now, thanks to a recent study by RAND Corp., we know which hospitals across 25 states are being paid the highest prices. Pandora’s box is open and there’s no closing it. The RAND study found that, on average, private payers are paying hospitals about 2.7 times what Medicare pays them for the same services.

The quest for transparency began with quality and, consequently, we now have employers who won’t consider hospitals for a high-performance network if they won’t report to the Leapfrog Group survey. With the lid ajar on Pandora’s box, we are likely to see employer demands pegged to price transparency and more strategies built on provider prices.”

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