Michael Woodrow launched Healthcare Data Analytics last year with the goal of ensuring that the data that hospitals publish to comply with the new Hospital Price Transparency Rule leads to actual price transparency in the healthcare marketplace. In this Q&A, Michael provides insight into why he is tackling this challenge and what he hopes Healthcare…
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What MN Hospitals Charge for 4 Popular Services in the U.S.
The majority of American adults can’t afford an unexpected $400 expense, according to research from the Federal Reserve. That’s troubling, given that the price of a hospital service can vary by $400 or more from hospital to hospital – with no visibility into why. That lack of transparency was the driving force behind the Hospital…
Hospital Pricing Data; A Step In The Transparent Direction
The US Federal Government has demonstrated serious interest in price transparency in the healthcare sector. The most recent example is the new rule for hospital pricing, as promulgated by the Centers for Medicare and Medicaid Services (CMS) Federal Regulation 45 CFR Part 180 subchapter E. This new Regulation has received… Wait for it… Bi-partisan support.…
CMS Transparency Initiative: The Upside
On the 24th of June 2020, the President signed an Executive Order (EO) which seeks to Improve Price Transparency in American Healthcare to prioritize patients. The executive order, among other things, is a rule that implements Section 2718(e) of the Public Health Service Act and updates the agency’s mandate upon hospitals. This mandate requires hospitals…
COVID-19 and Spikes in Health Insurance Profits; The Bridge
Remember January 2020? Maybe not, but 2020 started with good prospects for a lot of industries. Unemployment was at all-time lows. The stock market and the US economy were chugging along. Then, as we all know, COVID-19 happened. The pandemic heralded unprecedented losses for many industries (including travel, entertainment, and on-site fitness). However, some lucky…