2015-06-17 17:58:44 UTC

What is Price Transparency?

June 17, 2015

Price transparency describes efforts to make the price of health-care services available to consumers.

Price transparency is gaining traction in the consumer health-care marketplace. Increasingly, patients are using tools and websites that publish costs of procedures, tests and other medical services to “shop around” for the best price. The price transparency movement, which receives a lot of media attention, appeals to patients with health insurance who might have high out-of-pocket costs or seek out-of-network care, as well as those without coverage.

Gastroenterologists need to be aware of how price transparency can affect their practices and what they can do to best prepare. We’ve outlined some suggestions on gastro.org, including:

  • Don’t panic…yet.
  • Verify the accuracy of your publicly available data.
  • Develop close relationships with referring primary care providers.
  • Practice high-quality patient care, and promote it.
  • Find out how much the services you provide cost.
  • Consider getting ahead of this trend by publicly releasing your practice’s data.
  • Use this data to determine your referral relationships.

To read more about these suggestions and price transparency, visit our page on gastro.org.

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