In response to continued high prices in the US healthcare system, a bipartisan effort has led to increased price transparency. For many stakeholders, the goal of this transparency is to make it easier for the average person to find healthcare prices. The Utah Foundation’s report, X-Raying Healthcare, takes a deep dive into healthcare price transparency.
Report Highlights
- Datasets generated by federal price transparency rules have granted researchers, employers, journalists, and other observers unprecedented oversight of the healthcare industry.
- While some stakeholders look to price transparency as a method of lowering healthcare prices, recent research does not seem to support this method.
- Given that current price transparency tools rarely reach patients, providing Advanced Explanation of Benefits can potentially improve patient experiences.
- Utah’s All-Payers Claim Database serves as a rich source of healthcare data, while the Healthcare Value Hub suggests opportunities to leverage those data to improve Utahns’ healthcare experiences.
Key Takeaway
Many Utahns and Americans are dissatisfied with high and opaque prices in the healthcare system. Current transparency efforts may not work entirely as planned in alleviating the pain they feel when they open their bills. However, efforts are underway to improve how pricing information reaches patients.
