DENVER, Dec. 14, 2017 /PRNewswire/ -- BrokenHealthcare.org ("BrokenHealthcare"), a not-for-profit organization formed to use innovative strategies to force positive change in the U.S. healthcare system, announced today that a robust measure mandating healthcare price transparency has been submitted to Colorado's Legislative Council. This is the first step towards putting the measure on the November 2018 ballot, enabling the voters of Colorado to decide this issue for themselves. The measure is designed as a model for state legislation around the country. In Colorado, the ballot initiative's Proponents are BrokenHealthcare Founder, David Silverstein and businessman Andrew Graham. A parallel measure is being drafted by Representative Mike Foote for the Colorado State Legislature to consider. It is the hope of all involved that the legislature succeeds and the ballot initiative becomes unnecessary.
"There is no other marketplace where consumers have so little price information before purchasing a product or service," said Silverstein. "The U.S. spends more than any other nation on healthcare, and has the worst healthcare outcomes of any economically stable nation. That has to change. Price transparency is a critical first step towards fixing our broken system."
The bill requires hospitals and other healthcare facilities ("providers") to publish their "chargemasters," their full lists of non-discounted charges for supplies and services. They will also be compelled to indicate whether or not their charges can be negotiated. Both facilities and physicians will need to disclose which insurance plans they accept. And, under the law, insurance companies ("payers") will be required to show their members how hospital payments and patient reimbursement rates are calculated.
"This is not a bi-partisan initiative," said Silverstein, who is also CEO of Lean Methods Group, a strategic consulting firm. "Healthcare price transparency is a NON-PARTISAN issue. We are all healthcare consumers who deserve a strong, functional healthcare system. We look forward to helping Colorado lead the way on this critical national issue."
The complete draft measure can be found here. Silverstein will be holding "open house" office hours for anyone who would like to discuss the measure on December 19th 9a-2p and December 28th 9a-5p. Address is 555 17th Street -- Suite 400, Denver, CO. More information can be found at brokenhealthcare.org.