Blase: The shocking reason hospitals keep their prices a secret from you
From Brian Blase in the New York Post:
Congress has provided hospitals with nearly $200 billion of our hard-earned tax dollars to help them weather the coronavirus pandemic. House Democrats just passed a bill adding another $100 billion. Now it’s time to stop bailing out hospitals and start helping financially stressed families get better health care at lower costs.
In health care, most prices are hidden. Earlier this month, big, profitable hospital systems were in court to make sure that American patients remain in the dark, challenging a Trump administration rule that would require them to publicize prices, including those negotiated with insurance companies.
No other industry is fighting to hide prices from consumers. When given pricing information, people know how to shop for value. With websites like Amazon and Kayak, Americans use price information to secure the best deals. This forces providers to compete by lowering prices and improving quality. Health-care markets don’t work like this.