The US news cycle over the past couple months has been a rush of controversy, scandal and international intrigue. I won’t pick sides on any of the battles here in this blog, but I will say that these are historic times so its not unthinkable that you might have missed a landmark story that dovetails nicely into what we are doing here at GetPycked.
On January 1st of this year, changes to the Inpatient Prospective Payment System (IPPS) administered by Centers for Medicare & Medicaid Services (CMS) went into effect requiring US hospitals to publish price lists of their services online in an easily accessible location. This may not seem like a big deal, but how many of you have ever gone online to review and compare prices of a big purchase you want to make? Your next car maybe? A new computer? A cell phone? Airline tickets? Almost everyone right does this and almost on a weekly if not daily basis. Now, how many of you have ever checked online to review the pricing of a medical procedure at a certain location and to compare it to other procedure or other hospitals offerings? Almost none right? With the exception of a few standard well known commoditized procedures, that data just didn’t exist publicly. Well now it does and the rule changes to the IPPS gives patients around the country more control of their healthcare, by making them informed consumers of health services ahead of time and given them the information they need to shop around.
Additionally, these published price lists open up the competitive environment of hospitals and clinics around the country allowing price competition and price-value trades in the development and marketing of healthcare products and services. Competition is healthy for any industry so we should be ecstatic we will get more of it with these new rules.
Here at GetPycked, we too are trying to provide greater insight into healthcare options. Like the revised IPPS, our platform provides both patients the information they need to find the best dentists and services and practitioners the ability to iterate on and improve their business and offerings to better meet the needs and wants of patients.
At some point, we hope to offer you a price range of services of our dentists. Five stars being on the expensive end and one star being your thrift store. This can provide you with more information in choosing the right dentist for you based on quality of care and purchase point. We know our dentists can’t collude with pricing, but we do want to try to increase transparency in comparison to quality of work. As a patient, you should understand you are paying that higher fee because that person is the best!
For sure with the insurance complexities, geographic disparity of offerings and objectively high costs, the healthcare industry is far from achieving free and open competition, but we are making moves in the right direction, and GetPycked wants to applaud the civil servants and elected officials that helped make these patient-centric improvements to the IPPS a reality.
Submitted by getPycked on February 9th, 2019