Forum friends, please register for the National Hospital Price Transparency Conference on May 5th, if you have not already done so. We have over 350 people registered. It’s hard to believe that is only 2 weeks away! In this newsletter, learn about the Hospital Cost Tool developed by NASHP, a policy update, results of hospital transparency report by Patient Rights Advocate and more.
President and CEO, Employers’ Forum of Indiana
2022 National Hospital Price Transparency Conference
Registration is still open for our 2022 conference on May 5! We will share the findings from the RAND 4.0 study; launch Sage Transparency, our brand new hospital value dashboard; and hear from employers and industry experts. Registration is complimentary for all guests thanks to generous support from Arnold Ventures.
Addressing Health Care Costs
NASHP Healthcare Policy & Cost Resources
NASHP offers resources for employers exploring innovative strategies to address health care costs. Resources include reference-based pricing to Medicare resources, a Hospital Cost Tool, anti-competitive health plan contracts model legislation, state prescription drug purchasing pool buy-in model legislation, and an overview of additional cost-containment efforts and opportunities..
Hospitals Respond to Bray, Huston’s Call for Action to Lower Health Care Costs
In December 2021, House Speaker Todd Huston (R-Fishers) and Senate President Pro Tem Rodric Bray (R-Martinsville) sent a joint letter to presidents and CEOs of the state’s health insurance carriers and nonprofit health care systems requesting they work together to present a plan, by April 1, 2022, to lower hospital prices to the national average by January 1, 2025.
- Read the responses from hospitals and insurers, along with the original press announcement and letters.
Op-Ed: Lilly CEO: Indiana must improve education, reduce health care costs to stay competitive (IBJ)
In an April 20, 2022, op-ed, Lilly’s CEO David Ricks discusses plans to invest more than $3 billion in new factories and research laboratories outside of Indiana due to state being “behind the curve” in certain areas, including education, green energy, workforce development, inclusion of minorities and immigrants, and the affordability of healthcare. He noted that the high cost of healthcare is heavily shouldered by employers, and that Indiana’s high rate of chronic illness and mortality can make companies leery about investing.
Semi-Annual Hospital Price Transparency Compliance Report
Patient Rights Advocate released their Semi-Annual Hospital Price Transparency Compliance Report in February 2022 which assessed hospitals’ performance in relation to the federal hospital price transparency rule. 1,000 hospitals were reviewed and below are high level results:
Indiana Results (32 hospitals assessed)
- 21.9% were fully compliant with the price transparency rule
- The seven hospitals found to be fully compliant with the rule are: Franciscan Health Indianapolis, Indiana University Health Medical Center, IU Health University Hospital, Northwest Health – La Porte, Northwest Health – Porter, Northwest Health – Starke, and Union Hospital
National Results (1,000 hospitals assessed)
- 14.7% were fully compliant with the price transparency rule
- Only 0.5% of the hospitals owned by the three largest hospital systems in the country were fully compliant (HCA Healthcare, CommonSpirit Health, and Ascension)
- 85.7% of the hospitals did not post a complete machine-readable file of standard charges
- 28.7% of the hospitals presented 300 shoppable services in a consumer-friendly display for customary charges, but 216 of these hospitals remain noncompliant because their standard charges files were incomplete
This assessment echoed the results of a similar assessment EFI published September 2021.
In the News
EFI In the News
Tackling High Health Care Prices: A Look at Four Purchaser-Led Efforts (Commonwealth Fund)
Hospitals’ indifference on cost containment apparent (The Journal Gazette)
Lawmakers urge health care to lower prices (Tribune-Star)
…find more articles in the News section of the Forum website.
COVID-19 cases to jump 94% by April 30 + 2 more forecasts (Becker’s Hospital Review)
Employers and Insurers
Chasing Smokestacks isn’t working for Hoosiers (The Country Economist)
Hospital Prices: Unsustainable and Unjustifiable (32BJ Health Fund)
More insurers cut payment for patient consultations (Modern Healthcare)
UnitedHealth to buy home health business LHC for $5.4B (Healthcare Dive)
The burden of medical debt in the United States (Peterson-KFF)
How has U.S. spending on healthcare changed over time? (Peterson-KFF)
10 top-earning states for physicians (Becker’s Hospital Review)
Primary care investment could improve outcomes and lower costs, study finds (Modern Healthcare)
Michael Hicks: Hospitals to Legislature: Drop Dead (The Star Press)
Hoosier employers bear burden of high hospital costs (The Shelbyville News)
Hospital at home playbook: Lessons from Mayo Clinic, Michigan Medicine and Presbyterian Health (Becker’s Hospital Review)
Partners in affordability: Hospitals aggressively pursue cost savings (The Journal Gazette)
Starting July 16, 2022, Americans in crisis can dial 988 to connect with the National Suicide Prevention Lifeline and Veterans Crisis Line. Learn how President Biden is supporting states in this effort.
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