New law requires hospitals to disclose cost of medical procedures
Written by Jay M. Kelley III in Health & Wellness on January 15, 2019
In the United States, health care prices and costs are not easily understood.
Most patients do not know how much the medical services they are receiving cost. They submit their bills to insurance, pay their co-pay, and receive a bill. There is little attention paid to the actual cost of services or procedures.
But a new law may change that.
Hospitals are now required to post prices for medical procedures online. This price transparency could allow consumers to shop around for the best prices on certain medical procedures.
The new law, the Hospital Price Transparency and Disclosure Action, went into effect on January 1, 2019.
However, naming a price for a medical procedure is not always a straightforward task.
The posted price will unlikely be what the consumer actually pays. Insurance reimbursement, deductibles, co-pays, and myriad other factors may affect the cost.
Additionally, many medical procedures are a culmination of services, procedures, and medications, instead of one singular billable item. This can make it difficult to name a specific price for a specific procedure.
Time will tell how drastically the new law will impact consumers. Choosing a doctor, hospital or clinic can be a difficult task. Armed with more information, consumers may be able to make decisions that will positively affect them and their families.
Jay M. Kelley III - Managing Partner
Meet Jay M. Kelley III, a top medical malpractice and catastrophic personal injury attorney in Ohio with over 30 years of experience and a proven track record of securing millions in verdicts and settlements. He leads Elk + Elk’s comprehensive litigation strategy across state, federal, and appellate courts, drawing on a unique background as a former felony prosecutor and hospital defense lawyer. Jay focuses on high-stakes, complex cases, including birth injuries and wrongful death, and is widely recognized by Best Lawyers and ranked among the Super Lawyers Top 10 in Ohio.
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