BRYAN, Tex. (KBTX) Since the beginning of the new year, hospitals are required by law to list standard prices online.
The new law is meant to give patients easier access to the already public prices. This way, consumers can compare prices with among hospitals.
Dr. Lon Young with CapRock Health says while the intention is good, the information shared isn’t always accurate.
“Even if you can find a way of comparing services, that’s just the prices the hospital sends to the insurance company. The insurance company then decides what the actual cost is,” said Young.
Young says there are few stipulations about how the information needs to be listed. He says CapRock has made their pricing information online to be as easy to understand as possible.
“Two identifiers for each procedure. One is an industry standard code called CPT code and the other one is just a descriptor, which has more of a description that a layperson could read and determine what the service was,” said Young.
Congressmen Bill Flores thinks the pricing law is a good starting point to get consumers helpful information.