My guess is that eventually the govt will step in and start regulating prices if providers don’t.
One interesting idea (not well thought out at all) would say that all prices need to be +\- 50% of what Medicare pays.
Medicare pays $20,000 for stent placement? Great! You can charge whatever you want up to $30,000.
A lot of effort goes into setting Medicare rates (and they are based on self reported costs across the country), so forcing providers to be in the ballpark of those might help.
It wouldn’t solve the issue, but it would eliminate those ridiculous “why do you charge $10,000 for an MRI when the clinic down the street charges $1,000?”.
One interesting idea (not well thought out at all) would say that all prices need to be +\- 50% of what Medicare pays.
Medicare pays $20,000 for stent placement? Great! You can charge whatever you want up to $30,000.
A lot of effort goes into setting Medicare rates (and they are based on self reported costs across the country), so forcing providers to be in the ballpark of those might help.
It wouldn’t solve the issue, but it would eliminate those ridiculous “why do you charge $10,000 for an MRI when the clinic down the street charges $1,000?”.