The RAND Corp.’s update to its national Hospital Price Transparency Study ranked Wisconsin fifth among states with the highest hospital prices, according to a recent press release. The study uses Medicare reimbursement amounts as a benchmark.
In 2022, the relative prices that Wisconsinites paid for hospital services averaged 318% of what Medicare, the government-backed health insurance plan for people mostly 65 or older, would have paid for the same services. Across all states, the average prices were 257% of Medicare.
Other key findings include:
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The relative prices in nearby states highlight the disparities seen in the study, with Michigan at 192%, Iowa at 185%, Indiana at 297%, and Minnesota at 238%;
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There is variation between providers for comparable services — the result of a lack of transparent pricing and consolidation in the health care market;
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Prices also vary widely at different sites of care, with the most cost effective being telehealth and office visits, mid-level being urgent care, and most expensive being emergency care and hospital services; and
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Facility inpatient prices averaged 242% of Medicare, while facility outpatient prices averaged 288%, and affiliated outpatient professional fees averaged 190% during the same period.
