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 …
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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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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.
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.