Beginning of a health care cost revolution?

[Midpack]

Quote:

Originally Posted by MichaelB Price transparency can lead to many positive developments and is badly needed in health care.

+1. That was my overriding point. What other essential product or service is there where pricing is actively concealed from the customer? I've asked my doctors on several occasions, they say they have no idea even for routine procedures. And how many developed countries have published lists for medical expenses?

[pb4uski]

Quote:

Originally Posted by travelover I could not agree more. The medical industry is regulated with respect to basic standards and coupled with the power of the internet feedback (think Yelp), one can make an informed choice, especially for products that are essentially commodities like lab tests, generic drugs, and minor ailment treatment. The current opaqueness of medical costs is pretty unique, given that it costs Americans about $9000 a year.

+1 I think it would be interesting to look at the range of prices charged by one provider for the same procedure... I'm thinking it would be really wide... from the rack rate on the high end to the lowest negotiated rate or perhaps even the Medicare or Medicaid rate on the low end.

[athena53]

I tried this link and although it's a step in the right direction, I'm not thrilled. I've got an upcoming colonoscopy and the facility where I booked the appointment will tell me a month before what it's going to cost. (I have a high deductible and it's diagnostic so not covered as preventative.)

First of all, there seem to be a lot of local eye surgery centers in the area doing colonoscopies. It did list the facility I'll be using but when I clicked on it I just got a pop-up saying they'd get a quote and asking for a phone number. I may try it if I get an outrageous number directly from the facility.

[marko]

Quote:

Originally Posted by MichaelB I think the choice between price and quality is a red herring. There is no correlation between the two, just as there is no readily available source of data that assesses quality in a meaningful way. Price transparency can lead to many positive developments and is badly needed in health care.

Good point, but [bolds mine] why isn't there data that assesses quality v price? Seems to me there's folks out there tracking data on everything; one would think this would be a valuable effort.

[mn54]

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Originally Posted by rodi I would love for this to happen with medical and dental. (It's our first year going without dental insurance and DH needs a filling, and younger son needs 2 - I looked at old EOBs and we're being charged DOUBLE the price they took from the insurance company. I will be changing dentists.)

Make sure you are comparing apples to apples. The cost of a filling is determined by the material used for the filling and the size of the filling, i.e. the number of surfaces on the tooth.

[travelover]

Quote:

Originally Posted by mn54 Make sure you are comparing apples to apples. The cost of a filling is determined by the material used for the filling and the size of the filling, i.e. the number of surfaces on the tooth.

Getting quotes on dental costs is like pulling teeth.

[athena53]

Quote:

Originally Posted by marko Good point, but [bolds mine] why isn't there data that assesses quality v price? Seems to me there's folks out there tracking data on everything; one would think this would be a valuable effort.

Angie's list offers reviews of doctors and dentists but frankly, I don't know if I trust the average Joe or Jane to evaluate a doctor's or dentist's competence. I can certainly comment on whether they run on time, whether they answer questions, even whether any surgery or treatment was effective, but I'd be concerned that bad reviews of others might not have all the pertinent facts. Did they follow the doctor's recommendations to lose weight, stop smoking, take all the medication?

I trust hotel and restaurant reviews more!

[Texas Proud]

Quote:

Originally Posted by travelover Getting quotes on dental costs is like pulling teeth.

I do not know why... our dentist will tell us what every procedure costs... I have asked...

[travelover]

Quote:

Originally Posted by Texas Proud I do not know why... our dentist will tell us what every procedure costs... I have asked...

I was referring to costs across a variety of providers, not necessarily one's current dentist.


Sent from my iPad using Early Retirement Forum

[walkinwood]

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Originally Posted by MasterBlaster I wonder about this cost revolution... Do you really want your important medical operation done by the low-cost bidder ?

If it works like any other online marketplace, the providers and consumers will be rated and develop an online 'reputation'. Then, it isn't just price any more.

The medical industry is opaque in regard to pricing as well as in success metrics.

[athena53]

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Originally Posted by walkinwood The medical industry is opaque in regard to pricing as well as in success metrics.

Our local newspaper used the National Practitioner database, which includes many details of medical malpractice claims but no doctor names, and did thorough searches of civil records, to identify docs who had licenses suspended in one state but were practicing in our area and still making mistakes. Boy, did that cause a stink.

A year later when I used the database for a work project, I had to agree not to use it with any other database to get the names of the doctors.

[travelover]

Quote:

Originally Posted by athena53 Our local newspaper used the National Practitioner database, which includes many details of medical malpractice claims but no doctor names, and did thorough searches of civil records, to identify docs who had licenses suspended in one state but were practicing in our area and still making mistakes. Boy, did that cause a stink. A year later when I used the database for a work project, I had to agree not to use it with any other database to get the names of the doctors.

Oh well, it is not like a lot of people die due to medical errors.

Hospital Errors are the Third Leading Cause of Death in U.S., and New Hospital Safety Scores Show Improvements Are Too Slow

[imoldernu]

Medical cost seems to be a vicious circle.
For the most part, not optional but necessary.
Most of the profession is relatively high price. Not just the Doctor, but the specialists and the offices and equipment... Overall a high overhead.
Medical lawsuits are expensive, thus high insurance costs.
This leads to abundance of caution. No prescriptions or treatment without extensive, all inclusive tests of all kinds, as well as (usually) full blood tests.

Add to that the influence of the pharmaceutical companies (perks) and the "good health" bonuses from associated health plans, and we're left with a "take it or leave it option", as a patient.

Perhaps, some time in the future, a more level playing field, but I fear, not in my lifetime. Even the so called advances, such as "talk to the doctor" calling, come with a high price tag.

[Texas Proud]

Quote:

Originally Posted by travelover I was referring to costs across a variety of providers, not necessarily one's current dentist. Sent from my iPad using Early Retirement Forum

Yes, I do not know of any location where you can find the cost of procedures by various dentists around you... BTW, my dentist does call around and gets others prices and will share if you ask... I do not care so I do not ask...


But then again, there are very few items for sale that you can easily get pricing... you have to call each location and ask...

My point was that at least they can give you a price... most doctors cannot tell you what anything would cost if you paid cash...

[travelover]

Quote:

Originally Posted by Texas Proud Yes, I do not know of any location where you can find the cost of procedures by various dentists around you... BTW, my dentist does call around and gets others prices and will share if you ask... I do not care so I do not ask... But then again, there are very few items for sale that you can easily get pricing... you have to call each location and ask... My point was that at least they can give you a price... most doctors cannot tell you what anything would cost if you paid cash...

Yep, I'd like to be able to type in "cavity filling near zip code XXXXX" and get the cost of 10 dentist within 10 miles of my home or "MRI" and get the cost of 10 facilities nearby.