Question: What sort of benefits do ASCs reap from making their procedure prices readily available?
Dr. Devanand Mangar: The benefits include:
- The consumer knows what they will be paying upfront. It’s akin to going to the tire store, there is a buyer and a seller, and the cost is available on the web site
- Since prices will be paid upfront, there are no hidden costs. The facility, surgeons and anesthesiologists will all be included in the bundle.
- Because of the inordinate decrease in cost versus the outpatient hospital venue, price transparency drives more volume to ASCs.
- Volumes can be driven to the ASC, especially for high deductible plans working through third party administrators
Q: Are there any drawbacks to making price data available?
DM: There are not many drawbacks, except if the prices are competitive. [The bundle] also has to be at a price point that is agreeable to the surgeons and anesthesiologist.
Q: How does price transparency affect anesthesia?
DM: Price transparency is good for anesthesia, considering the fact that Medicare rates are really poor. I see this as beneficial to anesthesia physicians and their practices.
Learn more from Dr. Mangar at the 24th Annual Meeting: The Business and Operations of ASCs in October 2017. Click here for more information.
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