Published December 10, 2015
By Vera Gruessner
How Total Cost of Care Transparency Aids Payment Reform
“Having a broader picture of the cost is critically important… Practices can compare themselves to others and take action to reduce overall costs.”
What’s the first step in addressing methods for reducing medical costs and strengthening healthcare delivery? Improving transparency behind healthcare spending as well as educating stakeholders in the financial aspects of the medical industry is one of the very first steps to take.
In pursuit of this goal, the Network for Regional Healthcare Improvement (NRHI) has brought a tremendous amount of energy to leading the Total Cost of Care project, which aims to identify the entire cost paid for healthcare services received at the individual level in a given period of time.