Cash is king. That truism may hold for thrifty savers and businesses and individuals buffeted by economic uncertainty. But this realistic view also may be turned on its head for poorer, uninsured patients trying to cope with bankrupting medical bills.
That’s because hospitals — a leading driver of health care costs — gouge with their premium prices those who pay with cash, the Wall Street Journal reported.
The newspaper, working with previously secret pricing data that institutions across the country must disclose now, has given consumers yet another eye-popping view of the elasticity of hospital charges and how they punish the poor: