RAND report: Hospital prices surge above Medicare rates in 2022 news-medical.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news-medical.net Daily Mail and Mail on Sunday newspapers.
Most medical decisions are made without knowledge of cost because that information has traditionally been unavailable, resulting in consumers being frustrated when surprised by a medical bill. In the U.S., employer-sponsored healthcare plans cover 91% of U.S. workers, and employee benefit costs are the second highest expenditure employers face, behind salaries.1 As employers
2022 MAY 27 By a News Reporter-Staff News Editor at Health Policy and Law Daily Prices paid to hospitals during 2020 by employers and private insurers for both inpatient and outpatient services averaged 224% of what Medicare would have paid, with wide variation in prices among states, according to a new RAND Corporation report. “Employers can use this report to.
High hospital prices are a leading driver of high and rising costs in the U.S. health care system, resulting in insurance premium growth that outpaces the growth in wages and inflation. In particular, the cost of hospital care accounts for one-third of all U.S. health care expenditures. On average, hospitals command prices in the commercial market that are more than twice as high as Medicare, with some hospitals charging three or four times as much. High hospital prices have been fueled by a number of factors, including increasing market consolidation and “must-have” hospitals flexing their market power to negotiate significantly higher prices from commercial insurers.