S4, Ep 3- Decoding Hospital Price Transparency: A Path Toward Patient Empowerment and Consumerism in Health Care

Join our hosts as they tackle the critical issue of hospital price transparency in the U.S. health care system. Their guest, David Balat, founder of the Healthcare Finance Specialists and an expert in health care finance, sheds light on the impact of hidden costs and the benefits of empowering patients through transparent pricing. Discover how consumerism in health care can lead to lower costs and better outcomes, and learn why price transparency is crucial for improving access to affordable, high-quality health care.

Among the highlights in this episode:

0:57: Dr. Popovian, Chief Science Policy Officer at GHLF, addresses the fact that 41% of U.S. citizens carry some sort of medical debt, with 24% considering bankruptcy to solve the issue

2:20: David Balat outlines his extensive experience in the health care industry, both in hospital administration and policy work

4:35: David discusses the Trump and Biden administrations’ support of the Hospital Price Transparency Rule

5:23: “The hospital industry, the American Hospital Association, fought this rule [the Hospital Price Transparency Rule] tooth and nail, sued it to the highest court and they lost at every level, which we were very, very pleased with. One of the main arguments was people don't really care—people won't use price transparency. And you know, honestly, that may be the case, but it's just been so hard to access that it hasn't been used,” says David

5:43: Dr. Popovian asks David about employers' roles in health care transparency

7:55: David discusses the misconceptions around hospital pricing transparency, emphasizing that a large portion of health care services are elective and can benefit from transparency

8:26: Dr. Popovian and David discuss the potential patient benefits of true hospital price transparency

11:40: David explains how consumerism in health care would benefit patients by giving them control over their care and addressing their financial fears

14:34: Dr. Popovian, Chief Science Policy Officer at GHLF, shares some final thoughts

Contact Our Hosts

Dr. Robert Popovian, Chief Science Policy Officer at GHLF: [e-mail]

Conner Mertens, Patient Advocate and Community Outreach Manager at GHLF: [e-mail]

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