Baltimore-based Johns Hopkins Medicine researchers studied ASCs across the U.S., examining if price transparency had an effect on caseload, revenue and/or patient satisfaction, according to a study published in The American Surgeon.
Researchers analyzed data from six Free Market Medical Association ASCs. Researchers asked for patient demographics, patient volume, patient satisfaction and center revenue data from when the center first listed prices online to a year after.
Here's what they found:
1. Five of the six centers saw increases in patient volume and revenue after adopting price transparency policies. Patient volumes increased by a median of 50 percent one year after.
2. Four of the centers increased revenue by a median of 30 percent, while three of the centers added seven new third-party administrator contracts.
3. Three centers reduced administrative burdens.
4. Concerning patient satisfaction, five centers reported increases in satisfaction and engagement after being more transparent with their prices.
However, researchers cautioned the results "do not categorically prove that the increased business outcomes and patient satisfaction are directly due in total or in part to price transparency policies." But, they said, the timing of the increases suggested the impact is positive.
All six centers recommended price transparency as a marketing strategy, while four centers believed price transparency was the reason behind their annual revenue and caseload increases.