A hospital CEO promises more pricing transparency—and makes rivals squirm
Steven Sonenreich, chief executive of Mount Sinai Medical Center in Miami Beach, isn't afraid of controversy. As the Miami Herald reported, this month he announced on a radio talk show that the hospital will start publishing what it charges insurers for procedures. "We will post our prices relative to Blue Cross, and Aetna, our contractual prices," said Sonenreich, during an appearance on WLRN 91.3-FM. He challenged other hospitals to do the same. A hospital competing on price? That's virtually unheard of. And the impact is likely to be felt nationally. The South Florida hospital chief is shining a bright light on the fee-for-service system that's largely responsible for inflating health-care costs in the U.S.
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