American patients vastly prefer healthcare price transparency, according to new survey

Patients also think independent practices do a better job at transparency.

A new survey, published by LUGPA, a representative group for independent urologists, reports that 91 percent of the 1,342 Americans surveyed want price transparency in healthcare.

The published results come after the Trump Administration’s order that hospitals must publish the costs of their services.

In addition, 62 percent of respondents say this transparency is most meaningful when it comes to personally relevant charges such as co-pays, deductibles, and out-of-pocket expenses. 

“The research confirms what we’ve known all along: patients want to understand what their care will cost them,” said Richard Harris, MD, president of LUGPA. “LUGPA believes hospital price transparency is the first step in an ongoing journey to encouraging a competitive healthcare market.”

This study highlights the price transparency conflict between hospitals and independent practices. According to the report, “hospitals generally believe that price transparency will cause less costly providers to increase their prices in order to earn the same amount of money as their competitors.”

Many survey respondents had a different opinion: 85 percent reported that independent practices have better transparency.

“Independent physicians are at the center of delivering value-based care for patients,” Harris continued. “We’re encouraged to know that patients see through the hospital industry’s false talking points and recognize that cost-effective, personalized care, is a defining characteristic of independent practices.”

“As we continue down this path, we hope to foster opportunities to identify and widen the administration of value-based care through better access to personally relevant healthcare costs,” Harris continued.