Reducing Hospital Charges - Dynamic Healthcare Predicting
Target High Hospital Charges
To make healthcare costs more transparent, the federal government required hospitals nationwide to post their prices online. The Department of Health and Human Services just ordered all hospitals to post their price lists with the two-pronged goal of giving transparency to consumers and forcing hospitals to keep their prices competitive.
Total healthcare spensing in the USA was approxiamately #3.5 Trillion in 2017 and about $1.1 Trillion was spent on hopsital services. Meanwhile, hospital charges averaged $3,950 per day and each hospital stay cost an average of $15,734.
To make health care costs more transparent, the federal government is requiring hospitals nationwide to post their prices online. There is no standard system that determines what a hospital charges for a particular service or procedure.
Many factors figure into hospital pricing, including the utilization of high-dollar tests, lab tests, X-rays, surgical procedures, operating room and post-surgical costs, medications, and specialists’ fees.