“A bit of sunshine is creeping in” to health care prices, says The Economist
February 8, 2012 in health care costs
This cartoon leads a story in The Economist about US companies that are trying to making health care prices available to consumers. Here’s the first graph:
“AMERICANS spent $2.6 trillion on health care in 2010, a staggering 18% of GDP. Yet few of them have the faintest idea what any treatment costs or how it compares with any other treatment. Prices vary wildly and seemingly without reason (see chart).
Insurance terms require a dictionary. For most Americans, buying a procedure is akin to choosing a house blindfolded, signing a mortgage in Aramaic, then discovering the price later. Slowly, however, this is changing.”
Interesting that The Economist chooses to compare prices at three MA hospitals: Mass General, the Brigham and Mount Auburn. We’re hoping to arrange a demo on Savvy with Castlight, one of the companies mentioned in the article. We’ll keep you posted.