Virginia One of Only Six States with a Passing Grade in Pricing Transparency
The report card on state price transparency laws has been released for 2016, creating a tie between Virginia and Vermont for the top 5 states for healthcare price transparency in the nation. Health Care Incentives Improvement Institute reviews whether states have passed laws or regulations requiring healthcare price information and how well those laws are being put into action. As the number of insured consumers continues to grow, as does the importance of price transparency and ease of data use. Virginia Health Information currently provides pricing information for more than 30 different procedures and services, ranging from preventive health to imaging. This information can be found at www.vhi.org/healthcareprices.
While Virginia has risen two spots from last year's report, little progress was made for other states. 90% of states failed to provide adequate price information to their consumers; by doing so these states could have received an A for their level of quality reporting. Moving forward it's important for each state to provide pricing information to help consumers make value-based decisions concerning their healthcare.