Hospitals, It’s Time To Take Back the Narrative
There appears to be a recent PR push from payors about providers overcharging them for COVID-19 tests, which can only be seen as an attempt to lay the groundwork to help explain potential higher premiums for their plan members in 2021.
At ReviveHealth, we know this account to be a half-truth—at best. Namely, payors fail to mention the subsequent profits they are accruing due to telehealth visits versus in-person visits and underutilized services, to name a few. It seems the billions in profits payors pull in quarter-after-quarter should more than cover the gap necessary to prevent raising member premiums.
COVID-19 aside, we often see a similar tactic from payors during negotiations. They approach employers and warn them that if they offer the provider in question a rate increase, they will have no choice but to raise premium dollars. Simply put, premium dollars should not be contingent on providers being paid fairly. It also goes without saying that when a payor cuts its payment rates for hospitals, they surely don’t lower premiums for employers.
So, what does this mean for our hospital and health system partners? The COVID-19 pandemic has not let up, and neither should you telling your goodwill story to your communities. Health systems and caregivers have served on the frontlines of this pandemic for more than six months now with no end in sight. You continue to show up and take care of the most vulnerable because it’s your mission and your calling. You do all of this despite experiencing significant financial challenges due to postponed and canceled elective and non-urgent procedures. This is a story that must be told. It’s time for hospitals to take back the narrative.