High-tech medical advances make for sexy headlines, but the use of common-sense low-tech checklists can provide more than an ounce of prevention. ACSH advisor Dr. Henry Miller explains.
Price transparency means not having to settle for the MSRP, the manufacturer’s suggested retail price, or the sticker price or the friends-and-family discount. Instead, it means seeing the real, bottom-line price. So when it comes it medical care, why is this still an issue?
Why do teaching hospitals feel the need to write articles justifying why they are better? It makes you believe they have an inferiority complex. Do they?
When there is little if any money to be made curing a disease, non-profits could come to the rescue.
Why is everyone always above average? Hint-we are poor judges of our ability. Chemophobia is challenging to discuss, but it does drive 100% natural marketing. Are hospital administrators and their salaries growing at such a high rate that they are the cause of high prices? The graph says yes, the truth is a bit more nuanced. Finally, with all the concern about a replication crisis and the integrity of science, you would think that writing a paper debunking other research would be easy; you would be wrong.
A new study shows that after two weeks of intense training and practice a medical doctor can surgically repair a hernia just as well as a surgeon. Will this bring cost savings?
We can reduce the cost of surgical care for some, but that might place new costs on others, as knee and hip replacements demonstrate.
The Trump Administration recently issued two executive orders relating to biomedical science. The first involved the regulation of biotechnology products; the second involved transparency in healthcare costs. We believe both are a step in the right direction.
A new study suggests that teaching hospitals -- our centers of academic medical excellence -- are no more expensive to patients than your local community hospital. While we may quibble about the numbers, one thing is clear: the cost of hospitalization is only a little more transparent than the cost of medications. Do we see a pattern?
Fuzzy math rears its head in a new report on smoking and healthcare costs. Smoking is a big health risk, and we don't need fuzzy math to see that greatly reducing this health hazard will reduce tobacco-related costs.
Insurance providers use big sticks. They call them co-payments and high deductibles, used to try and lower their costs. Yet, when they try the carrot of rewards -- using actual dollars -- we have little interest.
When we talk about cost and price transparency, medical devices are rarely mentioned. It represents about 5% of our healthcare spending, or roughly $120 billion in 2017. That's less than the $500 billion we spend on pharmaceuticals. But then as the old saying goes, "a billion here, a billion there, after a while you are talking about real money."