Running Up that Hospital Bill

Healthcare spending accounted for 18.3% of the nation?s GDP in 2021, and is projected to reach nearly 20% by 2030; and $433.2 billion of that spend came out-of-pocket by the American consumer. With few understanding their benefits, co-insurance, or provider networks, and lack of price transparency, medical billing complexity, and unexpected costs it is no small wonder the consumer gets surprised with bills. Enter the No Surprises Act and a hospital price transparency rule requiring the public posting prices. Has it worked? A recent report showed that 2 million potential surprise bills were avoided in the first two months; and, perhaps because more than 55% of workers were enrolled in high-deductible health plans, consumers are beginning to ask questions and push back on hospital bills. However, less than 25% of hospitals are in compliance and enforcement is virtually non-existent. Join these experts as they discuss the state of healthcare economic affairs, next steps for CMS alternative payment models, and emerging industry payment innovation to achieve value for the buck.