Does Price Transparency Improve Market Efficiency? Implications of Empirical Evidence in Other Markets for the Health Sector

Description

This report reviews the empirical studies of the effect of changes in price transparency on prices and quality of goods in a variety of industries; addresses the extent to which this evidence might be applicable to the health care market and certain special characteristics of the health care market which may reduce the importance of prices as signals; examines how prices are actually set by hospitals and the evidence that exists on price dispersion both across hospitals and across patient categories; discusses some initiatives undertaken by governments, insurers, and interest groups to improve information about prices and to regulate price … continued below

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52 p.

Creation Information

Austin, D. Andrew & Gravelle, Jane G. April 29, 2008.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by the UNT Libraries Government Documents Department to the UNT Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 342 times. More information about this report can be viewed below.

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  • Austin, D. Andrew Economist/Analyst in Economics; Government and Finance Division
  • Gravelle, Jane G. Senior Specialist in Economic Policy; Government and Finance Division

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Description

This report reviews the empirical studies of the effect of changes in price transparency on prices and quality of goods in a variety of industries; addresses the extent to which this evidence might be applicable to the health care market and certain special characteristics of the health care market which may reduce the importance of prices as signals; examines how prices are actually set by hospitals and the evidence that exists on price dispersion both across hospitals and across patient categories; discusses some initiatives undertaken by governments, insurers, and interest groups to improve information about prices and to regulate price discrimination; and finally, suggests that while it is difficult to determine the consequences of greater consumer price transparency, it is reasonable to believe that greater transparency would improve outcomes.

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52 p.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1960's through 2018—covering a variety of topics from agriculture to foreign policy to welfare.

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Creation Date

  • April 29, 2008

Added to The UNT Digital Library

  • Dec. 5, 2014, 9:57 a.m.

Description Last Updated

  • Aug. 22, 2020, 4:08 p.m.

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Austin, D. Andrew & Gravelle, Jane G. Does Price Transparency Improve Market Efficiency? Implications of Empirical Evidence in Other Markets for the Health Sector, report, April 29, 2008; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc463265/: accessed March 19, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.

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