Hospital Prices Are Arbitrary. Just Look at the Kingsburys' $100,000 Bill. - WSJ - 0 views
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The costs, which overwhelmed the Kingsburys and ruined their finances, didn’t have to be so large. A Wall Street Journal analysis of Ms. Kingsbury’s medical bills, insurance statements and newly public data on hospital prices shows how the nation’s seemingly arbitrary hospital pricing left the couple with charges that in some cases would have been far lower for other patients, through no fault of their own.
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Ms. Kingsbury had insurance, but that’s no guarantee of a competitive price. Hospitals and insurers negotiate prices to hit financial targets, and their bargaining benefits some patients and disadvantages others, according to the Journal’s analysis and interviews with medical billing professionals and researchers.
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A weak negotiator can get stuck with a lousy deal. Trade-offs can give one insurance plan the best deals for some hospital services, but not others. Hospitals often charge patients the highest rates of all when insurance doesn’t cover their medical care
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