Houston Chronicle by Rick Schultz Dec. 7, 2019
Texas doctors demonstrating how Trump’s transparency rule could cut medical costs [Opinion]
Americans are blessed with many of the best doctors and hospitals on the planet. But they also must contend with paying for health care bills that are out of this world.
The Trump administration is shining a light on the dark and frightening experience of paying for health care. It recently announced a final rule that requires hospitals to disclose their secret prices. Illuminating basic pricing information will create an enormous opportunity for patients, doctors and hospitals. Ideally, it will create competition that will drive down costs.
According to a recent JAMA study, 25 percent of U.S. health care costs are a result of waste. Nearly 40 percent of hospital patients receive surprise medical bills. Transparent prices will significantly reduce these cost drivers because waste and inefficiencies will be reflected in higher prices that will scare off potential customers. Patients will also gravitate to providers that offer the peace of mind of guaranteed cash-out-the-door prices with no hidden upcharges.
As a surgeon, I have seen the potential of transparent health care pricing firsthand. Our team was an early adopter of price disclosure, posting our guaranteed prices for health care services online. As a result, I was invited to speak at the White House event where President Trump announced this rule.
By providing patients’ health care and eliminating costs and bureaucracy that does not add to that care, we can provide treatment at major discounts. For example, one of our patients was quoted between $15,000 and $45,000 at local hospitals for an inner ear procedure for his daughter that we performed for $5,250.
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https://www.houstonchronicle.com/opinion/editorials/article/Texas-doctors-demonstrating-how-Trump-s-14887881.php
