SIDEBAR Spring 2020 - 12

MONTGOMERYBAR.ORG

TRANSPARENCY IN HEALTHCARE

R

ecently, the term "transparency in healthcare" has been
mentioned during discussions focusing on our nation's
healthcare system, and the ensuing conversation often
centers on how the lack of transparency impacts healthcare
costs. This lack of transparency not only affects the consumer,
who is often in the dark regarding the costs they will be billed
for most aspects of their care, but business owners too, who
pay for employee healthcare without the necessary data to
substantiate and affect premiums.

Transparency has been increasing, but very slowly.
Although most agree it is necessary, there are also skeptics
who question just how effective transparency will be in
controlling the rapidly increasing price of healthcare. After
all, providing the data is one thing, but getting people to use
the data to act is another. More than likely, transparency is
just one component in a bundle of reforms needed to affect
a transition to value-based care and tame the pace of rising
healthcare costs.

Healthcare transparency, in very simple terms, refers
to making care information from a provider public in an
accurate and understandable way, revealing details concerning
quality, efficiency, cost, outcomes, and consumer satisfaction.
Increasingly, hospitals, physicians, insurance carriers, drug
makers, third-party administrators, and even governmental
agencies have come under pressure to reveal this data,
which will allow the consumer to make more informed
decisions regarding whether and where they would like to
obtain a particular healthcare service, and business owners
an opportunity to understand and better control the costs
comprising the premiums they pay.

As new developments occur in health care and potential
reform, the experts at My Benefit Advisor (MBA) are here
to guide you through any potential requirements and ways
to save on your premium. The MBA program is available to
all members of the Montgomery Bar Association; for more
information visit MBA online at montba.mybenefitadvisor.
com or contact Ray Keough at (610) 537-1393.

12 SIDEBAR


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SIDEBAR Spring 2020

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