What are the advantages of transparency for both the hospital and the consumer?

Scenario: On behalf of consumers, employers and local purchasers in your market are committed to slowing health care costs by improving visibility on hospital prices. A recent media story revealed that prices in your local market were the highest in the state. You are a member of a private sector consulting service that has been hired to help a hospital address transparency issues. The hospital would like to be more transparent in their cost and fee relationships with providers. To prepare for this Discussion: Review the provided scenario. What are the advantages of transparency for both the hospital and the consumer? How might hospital cost transparency improve economic efficiency? Consider current (last 5 years) regulation and policy to compare hospitals based on their costs. Locate and review literature to support your recommendations.