Lowering Healthcare Costs

Increase Pricing Transparency

West Health is continuing its efforts by focusing the 2019 Healthcare Costs Innovation Summit on three key areas of interest: lowering drug costs, accelerating the adoption of value-based care models, and increasing price transparency for consumers and employers.

The Opportunity

Today, most employers and patients paying for healthcare in the U.S. don’t have access to information about the actual cost of medical services, whether it’s a medication, hospitalization, test, or surgery. Worse yet, our opaque healthcare system makes it nearly impossible for patients to get a fair deal for their care and many have no way of knowing whether recommended services are genuinely needed or whether there are potential alternatives.

Our Goal

We need to pull back the curtain on the secrecy that contributes to grossly inflated healthcare prices. Greater transparency is essential to care decisions being made based on value; patients must be more informed about costs and outcomes to make healthcare decisions that are best for them and their families. Employers purchasing on behalf of their workers must have price and quality information to negotiate reasonable prices and assist their workers in choosing providers based on value. And health plans and providers should have sufficient helpful information to design care that improves value.

Learn More About the 2019 Healthcare Costs Innovation Summit

The rising cost of healthcare is a growing and major threat to our economy, our financial security, and our individual health. For too long, we’ve been paying too much and not getting enough in return. The U.S. healthcare system is on an unsustainable cost trajectory. We have an urgent need to address this cost crisis so that healthcare can become more accessible and more affordable for all Americans. Now is the time.

LEARN MORE


We need to do much more to expand the availability of clear pricing information that truly empowers patients and payers (such as employers) with accurate information on healthcare costs. That means unshackling healthcare data for payers and encouraging providers and health systems to publish easy-to-understand prices for patients to consider these factors as part of their care decisions.

We also should encourage insurance cost sharing and design to align patient incentives by encouraging patients to choose more economical/efficient treatments and lower-cost providers of quality services.

Ultimately, patients are in the best position to hold elected officials and policymakers accountable by making their concerns about healthcare costs known through direct communication and their votes.

Lowering Healthcare Care News


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A new analysis of financial data from general acute care hospitals in California reveals that private insurers paid on average 209 percent more than what Medicare paid for similar services in 2015 and 2016.
One of the biggest threats to your retirement solvency may be the cost of health care and prescription drugs. A study by West Health and Gallup shows that in the past 12 months, seniors have withdrawn an estimated $22 billion from their long-term savings for health-care-related expenses….
Some of the most essential generic medications are about to become more available and more affordable, thanks to a new, one-of-a-kind company with a mission to put patients first. Civica Rx, a nonprofit generic drug company headquartered in Utah, has more than 900 hospitals across the United…
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