News Headlines Article

Hospitals rethink prices as patients grow more cost-conscious
Modern Healthcare

Some hospitals and health systems are starting to review and revise their prices to make themselves more attractive to individual consumers who increasingly experience sticker shock when they pay for services out of pocket under high-deductible health plans.

Part of that effort involves analyzing how much those services actually cost to deliver, something providers have rarely done before.

Some hospital leaders say they are scrutinizing chargemasters — the master price list that often serves as the basis for rate negotiations with insurers — to see how prices compare against the actual cost of delivering services and how they compare with other providers in the market. Others, such as Memorial Hermann Healthcare System in Houston and the University of Utah Health Care in Salt Lake City, say price revisions are planned, but first they need to get a better handle on actual costs.