Recent federal laws, most notably Hospital Price Transparency of 2021 and 2022, which require hospitals and health insurance companies to disclose price information for all providers and all procedures, respectively, The “Scope Transparency” rule seeks to address this imbalance. But Chartock said many hospitals and health insurance companies are circumventing government guidelines by providing incomplete or intentionally incomprehensible data.
“Information is often difficult to access and incredibly dense, making it virtually impossible for the average consumer to make accurate price comparisons,” he noted, adding that information It added that the Centers for Medicare and Medicaid Services, the federal agency responsible for monitoring disclosures, must: Establish clear reporting standards and impose penalties for violations.
Consumers also have a role to play in ensuring price transparency. “Informed health care consumerism is a powerful, apolitical tool to control costs and improve patient satisfaction,” says Chartock. Because employer-sponsored insurance is the single largest source of health care coverage for Americans, companies can and do leverage their collective purchasing power to demand accurate, accessible, and actionable information. He thinks it should be done.
This is a message he emphasizes in the classroom as well. Ultimately, Chartock says, “While it may not be on your mind right now, health care costs are something all Bentley students will have to face when they graduate and enter the workforce.” In addition to teaching undergraduate courses in Intermediate Microeconomics (EC 224) and Health Economics (EC 343), I have designed and teach a graduate course in Microeconomic Fundamentals of Health Care as part of the graduate program. Customized MBA Program Developed by Bentley in partnership with Beth Israel Lahey Health.And last fall, Bentley affiliate Chartock health and business centerWe bring together students, faculty, alumni, and corporate and community partners to develop innovative and sustainable solutions to healthcare industry challenges. 250 of her first-year students participated in a discussion about health care price transparency.
Ultimately, slowing the growth in U.S. health spending will require harnessing market forces and making difficult choices, Chartock said. “Regulators and politicians often come to the table with the best intentions to solve complex problems,” he explains. “But market dynamics are powerful, and policies that ignore economics are destined to have little impact. We teach Bentley students, tomorrow's industry leaders, the economics of shaping a fair and efficient health care system. My job as a professor is to teach them the role of
