Monday, February 20, 2006

Transparency in Health Care Costs - policy


In a recent article in the Wisconsin State Journal you can read of a policy taking on a new direction in the State of Wisconsin [link: http://www.madison.com/archives/read.php?ref=wsj:2006:01:25:542032:OPINION]. Ultimately, it is true that health care does not function like a typical market. There is a fundamental imbalance in information by which the purchaser (patient or employer) and the consumer (patient) have to evaluate wise, value-based decisions. However, with more information on clinical outcomes, clinical care paths, patient satisfaction and so forth becoming available in 'real time' it is important that information on price be made more available and transparent. Price is what you pay for the thing you want, value is how well you perceive it meets your needs. Without information on outcomes and price, we cannot hope to offset the fundamental imbalance of information in this important market. Well done Gregg Underheim in putting forth reasoned policy to move a difficult market in the right direction.

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