Hospital Prices Outgrew Physician Prices by Almost 20%

Recent research published in Health Affairs states that “between 2007 and 2014, the growth of hospital prices outpaced that of physician prices by nearly 20%.” Despite policies meant to regulate price growth, we continue to see the rise of healthcare costs across the industry. Proposed solutions may bring relief to healthcare patients and employers in the future, but Medxoom can provide price transparency allowing for immediate savings across benefits programs now with our proprietary healthcare benefits technology.

Verma: CMS intends to disrupt healthcare by empowering patients

CMS Administrator, Seema Verma, believes the current lack of information available for patients leaves them unable to make informed decisions about their own health. Legislation was proposed in multiple keynote sessions at HIMSS19 to help address this issue. While the government works on passing legislation, Medxoom can provide price transparency for employer plans right now, enabling data-driven actions to lower and manage healthcare costs.

Think drug costs are bad? Try hospital prices

Higher drug and health care pricing is in the news frequently, with drug pricing getting more press coverage at the moment. Axios explains drug pricing is an issue, but it doesn’t cost patients as much as hospital pricing does. In general, the hospital industry tends to be silent about high prices. There is often a big price and quality variance for same medical procedure at different local hospitals that is unknown to patients prior to service. Medxoom enables pre-service price and quality comparison shopping based on a plan’s historical claims data, saving PPO plans 10%+ annually. Contact us today to learn more about our solutions to lower your healthcare costs.

Zuckerberg hospital rolls back $20,243 emergency room bill

Another surprise-billing story gained national attention, this time in San Francisco. The bill, originally for $20,243, was reduced to $200. The hospital’s reason for this bill was that they were out-of-network with all private health insurance plans. Medxoom technology is paving the way for healthcare billing transparency and can be the solution to this all too common situation of surprise-billing in non-emergencies. Learn more about our proprietary technology and how we’re providing transparency to hospital pricing and solutions for companies to manage and lower their healthcare costs.

Trump Seeks Action To Stop Surprise Medical Bills

The issue of surprise medical billing and price transparency in health care have reached The White House. President Trump has issued orders to the administration to look into these issues at the highest level of our government. While legal changes may be finally on the way, Medxoom can help right now. Our proprietary price-comparison technology can help patients find the best quality and price, in their network, to avoid any surprise medical bills.

Why mobile should be a part of your benefits communication strategy

HR professionals are familiar with the difficulties of aggregating and communicating information across all company employees. With mobile devices in every employee’s hand, it should be easier than ever to distribute personalized benefits and health information throughout any organization. Like a health plan GPS, Medxoom’s mobile platform helps companies and their employees reduce healthcare spend by 10%+ annually with a white label (can be company branded) app. The modular platform delivers a unified one-stop member experience with CRM messaging, pre-service comparison shopping, and medical bill payments.

The Real Reason Hospitals are So Expensive

TruTV’s Adam Ruin Everything show discussed the rising costs of health care in America today. The segment discusses, among other things, hospitals inflating prices on Tylenol, charging $37/pill, and saline bags, charging $137 for a $12 bag, and how pricing differs for the same procedure at different hospitals and the practice of inflating charges to make insurance company “discounts” of 50% appear better than they are.

Emergency room bills this year. Here’s what I learned.

Vox analyzed 1,182 hospital bills from 2018 and came away some insights that we’ve been discussing here on our blog, including price disparity, rising costs, surprise billing, balance billing, and more. Medxoom helps provide transparent healthcare costs based on a plan’s historical data prior to a medical procedure or hospital visit, allowing people to understand costs and even compare costs and quality across hospitals, doctors, in-network, and out-of-network. This alone helps reduce medical costs 10% or more to both consumers and employers.

When consumers pick up the tab, health care prices decrease

“Hospitals are like any other business trying to make a profit; they can ask more from a company like an insurer than they can from an individual” – Medxoom’s technology allows the consumer to further reduce their out-of-pocket costs by comparing prices and quality of healthcare services across doctors and providers BEFORE they receive their needed health service. Learn more about how Medxoom’s technology platform provides the ability to shop prices, manage payments; and for employers, provides full reporting of healthcare cost savings can be achieved.