Tag Archives: costs

Even in a pandemic, it’s important to keep the price transparency issue in perspective

Source: Catalyst for Payment Reform and the Source on Healthcare Price and Competition, Report Card on State Price Transparency Laws, May 2020.The Report Card on State Price Transparency Laws shows 34 states got failing grades and only two states got A grades (Maine and New Hampshire).

A federal judge last month ruled against the American Hospital Association and other hospital groups in their lawsuit against the Trump administration’s plan to require hospitals to publish the prices they charge consumers.

As a victory for consumers, that win on June 23 was short-lived as the AHA appealed the decision the next day. Then on June 30, the AHA asked federal health officials to delay the effective date of the federal hospital price transparency rule until the court case is settled. Continue reading

Reporter explores impact of medical credit cards on dental debt

Manuela-Tobias

Manuela Tobias

Dental patients in need of costly procedures may turn to medical credit cards to pay for the services. But these cards, which often include deferred-interest provisions, can pose risks.

If consumers do not fully understand the terms or fall behind on payments, they can end up facing inflated bills and crippling dental debts, as Fresno Bee reporter Manuela Tobias explained in a recent investigative piece. Continue reading

Scrutiny of hospital charges likely to intensify in wake of pandemic

hospital-roomAs the nation’s hospitals strain to keep up with the demand to care for COVID-19 patients, it seems almost unfair to ask how much all of this treatment will cost. Still, we know that the costs will be high, both for the care itself and for what health insurers, employers and consumers will end up paying.

In a recent report, the health insurance marketplace Covered California projected that the one-year costs of testing and treatment related to COVID-19 could range from $34 billion to $251 billion. These new costs could cause health insurance premiums for individuals and employers to rise by 40% or more next year in the absence of federal action, the report said, adding that insurance premiums would increase because insurers would want to recoup any losses from the pandemic this year and plan for any future losses they might incur next year. Continue reading

FTC charges in Shkreli case shed light on need for new generic drug development

The Federal Trade Commission and State of New York late last month filed a lawsuit against Martin Shkreli, charging that Shkreli and Vyera Pharmaceuticals raised the price of the life-saving drug Daraprim by more than 4,000% and worked to corner the market for such drugs.

“The joint action accused Shkreli and Vyera Pharmaceuticals, formerly known as Turing Pharmaceuticals, of scheming to ‘illegally’ prevent would-be generic competitors from selling a version of Daraprim,” as Stat’s Ed Silverman reported on Jan. 27. After acquiring the drug in 2015, Shkreli, dubbed the “Pharma Bro,” and Turing raised the list price of the medication from $17.50 per tablet to $750, he added. Continue reading

In 2020, employers’ benefit plans will promote more virtual care and focus on high-cost claims

Companies that pay for employer-sponsored health insurance are continually seeking ways to cut health care costs and improve the care delivered to employees, their family members and retirees.

To accomplish these goals in 2020, employers will implement more virtual care, such as telemedicine, and will focus more on high-cost claims, according to a report from National Business Group on Health (NBGH). Continue reading