Re:Most hospitals aren't complying with price transparency rule
by prepend on Tuesday June 15, 2021 @04:31PM
(#27521101)
That makes sense that there’s variability, many products have this. Not every single transaction needs to be profitable, only the aggregate.
If pathology is normally $100 and yet some cost $1500 then factor that into the cost based on the probability. Or insure against it. Etc etc.
These aren’t novel problems to the medical space, it’s just that there aren’t normal pressures forcing them to handle it.
Apple charges $79 for an insurance claim to replace my iPhone whether it costs them $1 or $1000 to correct. Imagine if they had an asterisk that sometimes it cost lots more than $79.
Someone else linked to the Surgery Center of OK [0] that has “solved” this problem. There’s a great episode of econtalk with Keith Smith [1] where they talk about this. Including examples almost exactly like how you call out.
If pathology is normally $100 and yet some cost $1500 then factor that into the cost based on the probability. Or insure against it. Etc etc.
These aren’t novel problems to the medical space, it’s just that there aren’t normal pressures forcing them to handle it.
Apple charges $79 for an insurance claim to replace my iPhone whether it costs them $1 or $1000 to correct. Imagine if they had an asterisk that sometimes it cost lots more than $79.
Someone else linked to the Surgery Center of OK [0] that has “solved” this problem. There’s a great episode of econtalk with Keith Smith [1] where they talk about this. Including examples almost exactly like how you call out.
[0] https://surgerycenterok.com/