We all know that the high cost of health care is a problem, but the solutions are far from obvious. That’s why we must start by increasing the transparency of our health care system, and more specifically, hospitals.
There are many sources of information about hospital spending including the Medicare Cost Reports, the Colorado Healthcare Affordability and Sustainability Enterprise Annual Report, the Financial Health of Colorado Hospitals Report, and the All-Payer Claims Database, but none of them are able to answer a key question:
After all the money we’ve invested in our hospitals to improve Medicaid reimbursements and reduce uncompensated care, why is the cost shift to privately insured patients increasing?House Bill 18-1207 requires hospitals to share more of their financial information with the Colorado Department of Health Care Policy and Financing, including audited financial statements, utilization and staffing information, and access to the existing secure data system containing utilization and financial data at the individual hospital level. With this data, HCPF will be better equipped to engage with Colorado hospitals to design the Delivery System Reform Incentive Payments (DSRIP) program, also known as the Hospital Transformation Project, which seeks to accelerate hospitals’ transitions to value-based payment systems and improved care coordination.