The lack of transparency in the US healthcare system has bred outrageous price discrepancies, unimaginable in any other industry. It also has looming legal implications for self-insured companies’ CFOs and HR executives needing to detect wasteful healthcare spending and provide the same level of fiduciary ‘rigor’ (from the DOL) that ERISA retirement plans have faced. Predictive Health Partners identifies prices that are “in network” for routine care often vary by more than five times for identical procedures. This routine “commodity care” includes routine blood work, imaging, outpatient surgeries and chronic care prescriptions, that collectively makes up 50% of the total cost.
Read full article at https://www.law360.com/articles/1170394