Hospitals Are Now Required To Post Costs Online, But Most Haven't

The video discusses the importance of being an educated consumer in healthcare, highlighting Robert Smith's experience with varying colonoscopy costs due to different hospital pricing and insurance negotiations. It explains the hospital price transparency rule implemented by CMS in 2021, which mandates hospitals to publish their prices online. Despite this, compliance is low, with only 16% of hospitals fully adhering to the rule. The video emphasizes the need for patient empowerment and advocacy to drive transparency and competitive pricing in healthcare.

What was the main issue Robert Smith faced after his colonoscopy?

• He was charged more than expected.

• The procedure was not covered by insurance.

• He had to travel to another state for the procedure.

• The procedure was not performed correctly.

What factor did NYU Langone cite as the reason for the cost difference in Smith's procedure?

• The type of procedure performed

• The quality of care provided

• The negotiated rate with his insurer

• The location of the hospital

What is the purpose of the hospital price transparency rule?

• To increase hospital profits

• To standardize medical billing across all hospitals

• To make hospital prices available online for consumers

• To reduce the cost of medical procedures

As of October 2022, what percentage of hospitals were fully compliant with the transparency rule?

• 100%

• 16%

• 75%

• 50%

What is a key benefit of being an informed patient and consumer?

• Awareness of potential billing errors and cost savings

• Access to free healthcare services

• Ability to negotiate better insurance rates

• Priority treatment at hospitals