This data can help employers determine a fair price for hospital services.
The NASHP data show that the commercial market is paying far more than it takes to offset losses from public programs.
The commercial sector pays more than double the average cost of what hospitals need to provide medical services.
The NASHP Hospital Cost Tool reveals data about hospital pricing practices that enables employers to exercise their market power to contain health care costs.
The Hospital Cost Tool released by NASHP today offers a new look at hospital pricing and profitability – a game-changer for the employers and employees paying 300% more than Medicare and 100% of hospital profits.
As data becomes more complete over time, hospital price information will give employers and purchasers more insight into how their contracted hospitals compare on price.
Employers and purchasers can leverage this information to buy better care for their employees and members.
In some cases, employers and patients are paying more for care with insurance coverage than they would without.
The variation in prices charged to patients covered by different health plans, or with no coverage at all, is exactly why hospital price transparency is so important.
Fewer than half of all hospitals nationwide are fully compliant with regulations that require them to publicly post prices.
These talking points can be used to create communications related to hospital price transparency.
Why are most hospitals not complying with a new federal rule that requires them to post their price information online?