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Typically, patients, and their employers, don't know the cost of health care or are given inaccurate estimates. Then come the surprise medical bills and costly overruns of employers' benefits budgets. Here's a look at the health care cost transparency problem and how people are trying to solve it.
Researchers hope the study will give private payors a better grasp of what health care costs are, and allow them to compare prices within a state and across states. (Photo: Shutterstock)A new study by RAND and the Employers’ Forum of Indiana (EFI) finds that hospital prices are much higher for employer-based health plans than for Medicare.
The study gathered data from hospitals in 25 states, finding a wide variation in what hospitals charged health plans. The researchers looked at claims data for more than 4 million people, with information coming from self-insured employers, state databases and records from participating health insurance plans.
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