HFMA's resistance to price transparency
Make it make sense - Healthcare Financial Management Association (HFMA)’s resistance to price transparency.
HFMA recently put out a podcast that can only be described in modern parlance as “weak sauce.” In the podcast, they defended against Power To The Patients’ high profile campaign (see: Super Bowl Ads with country musicians, last year’s efforts with hip hop stars, next week’s Foo Fighters concert) with a series of half-arguments and unrebutted talking points.
HFMA argues the old saw that it’s too complex to post prices ahead of services and relies on a bunch of semantic arguments in a pathetic attempt to protect the status quo obscure market tactics.
To be clear, medical providers are critical members of our society. We need doctors and hospitals and they deserve to earn a living commensurate with their education, experience, and the value they provide patients and society as a whole.
But there is no justification to defend not aggressively working to real, functional price transparency. Yesterday I showed that a recent George Kaiser Family Foundation poll found that 74% of Americans were afraid of surprise medical bills. There is no reason for that today.
Doctors have an ethical obligation to provide price transparency to patients because it is more likely to result in adherence to treatment. Hospitals have an ethical obligation to serve the communties that issue them a tax-free monopoly by not hiding costs and bankrupting members of the same communities.
Shame on you, HFMA. Even if you’re technically correct on Power to the Patient’s interpretation of the regulations, you’re on the wrong side of the issue.
Here’s where you can find more info on Power to the Patients:
Here’s the HFMA podcast if anyone wants to listen:
Originally posted on LinkedIn, where the discussion and source links live in the comments.