In this session, we will examine the impact of the price transparency efforts born from the Transparency in Coverage Rule and the No Surprises Act on medical cost trends. We will present the current state of price transparency data and efforts, and barriers to further improvements as well as potential solutions. We will discuss how price transparency efforts have impacted:
Overall health care spending: Changes in total expenditures and their components
Health care utilization: Changes in utilization patterns, such as hospital admissions and elective procedures
At the conclusion of the session, attendees will be able to:
Understand whether price transparency efforts have influenced the healthcare cost trend
Quantify the impact: Understand the measurable effects of price transparency on key cost drivers
Understand how the price transparency data is currently being used
Understand the potential opportunities for using the price transparency data
Understand the roadblocks to making the most of price transparency data and potential solutions
Inform strategic decisions: Utilize the findings to inform risk management strategies, product development, and regulatory advocacy
This session will provide actuaries with valuable insights into the evolving healthcare landscape and equip them with the knowledge to navigate the challenges and opportunities presented by price transparency.