Components

Primary File
Abstract

It Costs How Much?

Michael H. Kennedy
May 1, 2015
SKU:
BUS-004821
Region: 
North America
Topic: 
Strategy & General Management, Accounting & Finance
Length: 
5 pages
Keywords: 
healthcare finance, price reansparency, informed consent, recollections, Benefits
Student Price: 
$4.00 (€3.56)
Average rating: 
0
Patrick Kelly’s receipt of the Explanation of Benefits for his colonoscopy served as the catalyst for recollections of his interactions with providers and staff members in preparation for and after his procedure. Some of these recollections raised legitimate concerns about informed consent and price transparency. A review of the Explanation of Benefits reminded the Patrick that even an attempt to explain prices for procedures and services after they have been billed may be difficult to understand. Determining the true cost was further complicated when coordination of benefits was necessary because of coverage by a second insurer.