Targeting the cost of repair: real solutions to rising costs

Targeting the cost of repair: real solutions to rising costs
Health Care Reform addresses funding… HOW we pay for the rising cost of medical care. Developing complex ways to fund the cost (via insurers, employers and/or government) does not provide a solution. Changes in funding do not target the problem. We must start focusing on the COST of medical care. That is, the cost of medication, surgeries, hospital stays, and doctor visits.

Many doctors and hospitals contractually prohibit insurers from publishing their complete list of fees.

Fact 1: CMS released data in 2013 showing the cost of procedures can vary up to 4 and 5 times from one hospital to the next, in the same city.
Fact 2: Many drugs produced by the same drug company sell at a cost of up to 50% more in the U.S. than when sold abroad.

If consumers had access to the actual charge of every procedure at every hospital and doctor office, I believe market demand would bring prices down. Good News: transparency tools are already here. This information is available now. The more folks start using these tools, the closer we come to a transparent marketplace.

Remember, insurance of any kind simply reflects the cost of repair. It’s time to target the cost of repair in our healthcare system.

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