Last week, House Republicans and Democrats introduced the Lower Cost, More Transparency Act. In a bipartisan effort that is all too rare in Congress, this bill makes significant progress to address a problem that has long plagued patients: hidden healthcare costs.
. In another metro area, a survey found that the highest negotiated price of a simple blood test was about 40 times more than the lowest price. Even if a person tries to inquire about the cost of many nonemergency procedures such as a colonoscopy or knee replacement, most hospitals do not provide a straightforward answer.
Claudia Knafo, a Manhattan concert pianist, was told she needed to have urgent spinal surgery. She chose a surgeon in her network. She was never given information about the cost of the surgery. She knew only that she needed this surgery to live and that her surgeon accepted her insurance. After the surgery, Claudia received bills totaling more than $101,000. It turned out that the doctor no longer accepted her insurance. “I was a pawn in a system that is so broken,” says Claudia.
Though the Trump and Biden administrations have taken action to require hospitals to publish prices, hundreds of providers have resisted complying. Even when North Carolina State Treasurer Dale Folwell asked the University of North Carolina healthcare system for a record of the prices it charged the state for hospital visits in 2020, UNC sent“The state hospital won’t tell the state treasurer what it’s charging to treat state employees. That’s unacceptable.
Second, it would expose the widespread consolidation of hospitals and physician ownership to prevent monopolies.
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