I asked my research team to study the few medical groups in the country that have gone from the old way of doing business—giving patients sticker shock after their surgery—to doing business with full price transparency. Our study was led by Dr. Ambar Mehta, an inquisitive Hopkins medical student who is now a surgical resident at Columbia University Medical Center in New York City. His findings were dramatic. Centers that initiated full price transparency saw a 50% increase in patient volume, a 30% increase in revenue, and an increase in patient satisfaction.17 People are sick and tired of the
...more
