According to an opinion column by L.A. Times writer David Lazarus, medical bill woes could be partly alleviated if the industry eliminated individual contracts between insurers and providers.
Mr. Lazarus said instead of individual contracts, medical prices should be determined by a panel of experts, and all payors would be required to follow the panel's guidelines when setting reimbursement rates. He said the change would essentially move the country to a single-payor insurance system like those that exist in other developed countries.
He said while he does not necessarily believe the healthcare industry should do away with private insurers, a rate-setting panel would improve transparency in healthcare costs and improve consumer understanding of expected payment. He said a single-payor insurance system would give hospitals an incentive to keep down prices in the hope of attracting more patients; insurers would also control cost to bring in more members.
Read the L.A. Times column on eliminating individual contracts.
Read more on billing, coding and collections:
-AAPC and CMS to Host ICD-10 "Code-a-Thon"
-States Propose Legislation to Alter, Scrap Workers' Comp
-ASC Association Explains Medicare Enrollment Revalidation
Mr. Lazarus said instead of individual contracts, medical prices should be determined by a panel of experts, and all payors would be required to follow the panel's guidelines when setting reimbursement rates. He said the change would essentially move the country to a single-payor insurance system like those that exist in other developed countries.
He said while he does not necessarily believe the healthcare industry should do away with private insurers, a rate-setting panel would improve transparency in healthcare costs and improve consumer understanding of expected payment. He said a single-payor insurance system would give hospitals an incentive to keep down prices in the hope of attracting more patients; insurers would also control cost to bring in more members.
Read the L.A. Times column on eliminating individual contracts.
Read more on billing, coding and collections:
-AAPC and CMS to Host ICD-10 "Code-a-Thon"
-States Propose Legislation to Alter, Scrap Workers' Comp
-ASC Association Explains Medicare Enrollment Revalidation