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Why A Hospital Value Report?
As mentioned, prices vary inexplicably not just across the state as a whole, but within individual markets. For instance, prices for routine procedures in the Denver market range overall by more than 800%. To put these numbers in a real-life context, if consumers accepted that kind of variance when getting gas, we’d be paying between $2.20 and $18.41 cents a gallon. As the nation’s, its employers’, and our families’ healthcare spending continues to grow faster the general rate of inflation and as hospital prices grow faster than their costs, the need for transparent pricing and quality data – data that can be benchmarked and referenced -is essential if the health care market is to function like others. Currently, it does not. A recent Modern Healthcare article* sites consolidation as a vital contributing factor to rising prices, price variation and overall uneven quality of care. And recent reports to Congress by the Medicare Payment Advisory Commission site excessive commercial payments as negating hospitals’ need to control expenses.
Download this report released summer of 2019 on “Benchmarking Pricing & Quality Reliability for Inpatient Care Across Acute Care Hospitals”