Report indicates experts see need for change in healthcare rate determinations

Nov 15, 2010

Experts recommend changing how health costs are determined.

Changing how health insurance costs are determined could lead to better care, according to a recent report from the Commonwealth Fund.

According to the organization's survey of professionals in the healthcare industry, 56 percent of respondents favor setting rates through an all-payer system, rather than having insurance companies deal with a number of medical providers. Doing so could reduce administrative costs and large pricing variations.

"The way we currently pay for health care leads to unnecessary confusion and wide variation, and sometimes borders on chaotic," said Karen Davis, Commonwealth Fund president.

Survey respondents also said there needs to be more transparency within the healthcare system. Ninety percent said consumers should have access to data showing prices, patient experiences and the quality of care. Doing so would help people looking to purchase health insurance.

Having the proper coverage and care can lead to a better quality of life while also reducing rates on life insurance coverage. The government enacted its own major health overhaul, which has already seen new regulations.

However, some fear it could lead to increased expenses for health insurance providers.

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