When It Comes To Health Costs, Price Transparency Tools Not The Panacea Some May Have Hoped
The power of big data to help shoppers make sophisticated health care decisions is being questioned. Meanwhile, rising health care costs have supported underlying inflation, and out-of-network bills are contributing to New Jersey's health care costs that are among the highest in the nation.
The New York Times:
Online Tools To Shop For Doctors Snag On Health Care’s Complexity
Need a dermatologist? Today, online tools can show you which doctors are in your plan’s network as well as rank them by the likely cost of a visit. Still not sure which one to pick? The tools also show whether you have already met your plan’s deductible and offer Yelp-like reviews of the doctors. The idea behind these web tools, which have been available from health insurers and start-ups for several years, is to harness the power of so-called big data. ... Yet the limits of this data are becoming increasingly clear. (Abelson, 6/16)
Reuters:
Rising Rents, Healthcare Costs Support U.S. Underlying Inflation
U.S. consumer prices moderated in May, but sustained increases in housing and healthcare costs kept underlying inflation supported, which could still allow a cautious Federal Reserve to raise interest rates this year. (Mutikani, 6/16)
Asbury Park Press:
Surprise Out-Of-Network Med Bills Cost NJ $1B
New Jersey consumers pay nearly $1 billion more in health care premiums because patients are unwittingly treated by doctors and hospitals that aren't in their insurance networks, much to their surprise, according to a study released Thursday by advocacy groups. The unexpected out-of-network bills contribute to New Jersey's health care costs that are among the highest in the nation, the study by New Jersey Policy Perspective and NJ for Health Care found. (Diamond, 6/16)