“How we put a price tag on hospitals | The data science that’s helping us crack the code of hospital cost variation.” – Amino

by Sameera Poduri

price on hospitals

“Economists and consumers alike have often observed (and suffered from) extreme cost variation in healthcare, not only based on the service itself and the doctor who performed it, but also determined by the facility where it was performed. Hospitals in particular are known to charge wildly different prices for similar care, and we’ve had little insight into why or how.

“Our first step toward uncovering healthcare costs led us to physician level cost estimates for more than 100 procedures, searchable by the doctor one might choose to perform that procedure. Such granularity can help people stay in network, calculate their out-of-pocket costs ahead of time, and budget for a procedure.

“Today, we’re excited to announce that we’ve put a dollar sign on 45,000 facility-insurer combinations across the country—including hospitals, imaging centers, and urgent care centers—so that people can not only understand the total cost of a procedure, but also know where it might be cheaper (and of the same or better quality) nearby.”

Click here to read this article at amino.com in its entirety.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: