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8005 Module Discussion According to Sinaiko and Rosenthal

   

Added on  2020-04-01

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Running head: 8005 MODULE DISCUSSION 18005 Module DiscussionNameInstitution
8005 Module Discussion According to Sinaiko and Rosenthal_1
8005 MODULE DISCUSSION 2Discussion 18005 Module DiscussionAccording to Sinaiko and Rosenthal, “one approach for decreasing spending is to increase price pellucidity in health care” (Sinaiko & Rosenthal, 2011). Reducing excessive healthcare costs is a substantive topic in the US health care system. Rising costs contribute to long-term deficits that hinder the United States’ ability to grow the economy and create jobs ("Deficit-Reducing Health Care Reform", 2016). Slowing the growth of these costs is vital to fiscal stability (Sinaiko & Rosenthal, 2011).Recently, more patients are obtaining high-deductible health plans (HDHPs). Therefore, the need for transparent pricing has become more important to these patients. Before their plan covers any costs, they can be liable for thousands of dollars (Kane & Harvey, 2015). In 2014, only Maine and Massachusetts performed well in regards to medical price transparency laws. Some laws require providers to respond to patient cost inquiries by providing direct cost estimates or procedure codes that the patient can submit to their insurance provider and obtain anestimate (Kane & Harvey, 2015) Additionally, there are health systems, such as Texas Health Resources (THR) that use pricing tools offering estimates. The opacity regarding cost in health care contributes to high costs. If patients knew approximate costs of certain procedures, it would allow them to shop around. It would empower the patient and give them control over their expenditures. The result of this would hopefully be a uniform pricing system, where one hospital cannot charge 2,000 dollars for an MRI while
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