Spectrum Health CFO Michael Freed: On a Journey to Price Transparency

Some health systems, such as Grand Rapids, Mich.-based Spectrum Health, are making headway toward providing easily accessible, useful price data to patients. Michael P. Freed, president and CEO of Spectrum Health’s affiliated insurance company, Priority Health, describes the system’s journey toward price transparency.

Spectrum Health continues to seek ways to provide information that can help patients make health care decisions. In April, it announced a joint venture with Healthcare Blue Book to publish specific cost and quality information for more than 300 procedures across different facilities and physicians for Priority Health members. With plans to go live this summer, the tool will estimate the fair market price for procedures and show if facilities are below or above that estimate.