Billing layers hide healthcare prices

Health‑care 'list prices' are not single numbers but outcomes of coding (CPT/ICD‑10), site‑of‑care adjustments, payer contracts, processor rules, and downstream payment risks like denials and clawbacks. Without exposing those coding rules, contract modifiers, and payment contingencies, price‑transparency sites will systematically mislead patients about real costs. — If policymakers want transparency to help consumers and competition, they must regulate and disclose the billing and contracting layers — not just require hospitals to post headline prices.