All over the country people are commenting on the ridiculous pricing from healthcare facilities and providers. Here is a recent example I came across:
You’ll note that the gross price for these lab tests is $837.74 and the person was told their out-of-pocket responsibility could be $109.85. What is so amazing about this is I have heard of wellness companies that purchased lab services for their programs being charged $21 for a similar series, without the PSA, if the draw was done at a laboratory service center and $65 if the draws were done onsite at the employer.
So lets take out the PSA at $148.48/$19.47 and there you have it, gross pricing for these services is almost 33 times what they sell this service to wellness vendors on a wholesale basis (which obviously has a profit in it), and the person getting these tests could potentially pay four times that amount out of pocket with their PSA portion excluded.
I assume that the insurer, Continue reading
This past spring I was interviewed at the World Health Care Congress 2018 by Mabel Jong. We discussed the Health Value Awards.
The Health Value Awards recognizes health care vendors, brokers and purchasers who consistently deliver high value that can be replicated throughout the continuum of clinical and financial risk management. Validated categories are evaluated by the Validation Institute, an independent certifier for performance and methodologies and all categories are then reviewed by a panel of nationally prominent judges for market viability, impact and innovation. The Health Value Team: World Congress, Validation Institute and Health Rosetta Institute, showcase these organizations based on their performance and illumination of issues of national importance.
I’m honored to serve as a judge again for the 2019 Awards. You can learn more about the Health Value Awards and apply here.
One of the Triple Aim‘s has gotten lost. Will anyone in the healthcare sector publicly declare that they are in fact working on the Double Aim?
The Triple Aim, that lofty set of goals that the healthcare system claims to have embraced:
- Improving the patient experience of care (including quality and satisfaction);
- Improving the health of populations; and.
- Reducing the per capita cost of health care.
I agree with them and believe they are appropriate and necessary.
Everyone it seems, Continue reading
Brian Klepper and I just published a piece entitled:
Employers, unions look to direct contracting for health system contracts
Some key points:
“Industry denials notwithstanding, reducing healthcare costs is fundamentally against nearly every healthcare organization’s perceived economic interests.”
“Florida’s Gov. Rick Scott, former CEO of Hospital Corporation of America, pointed out at a venture capital conference a few years ago, ‘What business wants to make half this year what they did last year? That’s why the healthcare industry won’t fix the healthcare industry.’ “
So purchasers beware. You can read the article by clicking the link to the story at Employee Benefit News:
And if you’d like to learn ways to lower your healthcare costs, contact Brian or me at Health Value Direct