WASHINGTON--(BUSINESS WIRE)--With concern over surprise medical bills nearing a tipping point nationwide, ndp | analytics, a strategic economic and communications research firm, announced today the release of its latest report, “An Assessment of the CBO Cost Estimate of S. 1895: The Unintended Economic Consequences of the Proposed Price Control System”.
This timely research cautions against the rate setting mandate contained in S. 1895, legislation recently introduced in the U.S. Senate called the Lower Health Care Costs Act. While the bill aims to address these unexpected healthcare costs, its actual outcomes would be bleak. The legislation would not only allow government to fix healthcare prices, but also place undue burdens on doctors, hospitals, and most importantly, patients.
According to Dr. Nam Pham, managing partner at ndp | analytics and co-author of the report, “One out of every two adults in America has opened their mail in disbelief due to one of these surprise charges. Thankfully, there is almost unanimous consent among policymakers and regulators that something must be done. Yet this Senate legislation, which proposes to use a median in-network rate as the benchmark for out-of-network providers, is not the answer. This approach will drain the number of practicing physicians, reduce the quality of care, and increase costs.”
The report also highlights examples of better alternatives to curb surprise medical bills. ndp analytics’ Mary Donovan, the report’s other co-author, states, “It is important to note that some models, such as New York’s, have already made strides on this issue. For example, the state uses a neutral database unaffiliated with any one insurance company to define costs. It also uses the independent dispute resolution system that relies on market – not government – based rates. This works for all parties – insurers, doctors, and patients alike.”
To read the full report, please visit https://bit.ly/2kf68sx.
About ndp | analytics
Founded in 2000, ndp | analytics is a strategic economic and communications research firm. Through the rigor of quantitative analyses, the firm produces reports, creative content, and other research for a diverse group of clients, including trade associations, corporations, law firms, multi-lateral organizations, and government agencies. By uniting this rigorous analysis with clear communication, ndp | analytics turns data into action.