More hospitals and health systems are trying to create much more transparent pricing as a way of drawing more customers/patients.
PwC has surveyed price-transparency efforts in four systems across America. Among its findings:
Adventist Health System (Altamonte Springs, Fla.) has has tried to reduce the charge-to-cost ratios in its chargemaster, focusing on areas where it see increasing competition, including hospital-based rehabilitative services and outpatient laboratory work. It identified which services drive revenue for the hospital and which prices could be cut.
Integris Health (Oklahoma City). Integris developed a pricing tool through which patients can obtain pricing information on various procedures and services. “Overall, the tool offers 240,000 price estimates for outpatient procedures each year,” PwC said.
The tool also links patients to financial planners before, during and after their visits. PwC said the tool has helped the system improve communications with its customers. And the system has been steering patients to lower-cost clinicians affiliated with Integris.
At St. Clair Hospital (Pittsburgh) leaders work on how best to communicate out-of-pocket costs to patients via such efforts as listening sessions with former patients and their families. The hospital this year has introduced an online tool that lets individuals get estimates for 105 different procedures,
Geisinger Health System (Danville, Pa.). “Geisinger offers consumers price quotes, a one-stop web portal for patient information and a single hospital bill as part of its Proven Experience program,” PwC said. And patients can now request refunds if they are unhappy with their hospital experience.
To read the PwC survey, please hit this link.