A bold claim – posting prices leads to huge savings in health care
This white paper from Thomson Reuters estimates the savings if patients get mammograms, colonoscopies and 298 other common procedures at labs or clinics that charge the median (or lower) prices for these services. But there’s one BIG problem:
“The reality is that many consumers do not know what their healthcare costs and what portion their insurers are paying for the services they receive.”
Now, lots of people will tell you that price is just one reason health care costs have risen much faster than inflation. The other reason is that we use a lot of care. But hey, if just giving consumers the prices so they can compares costs from one hospital to another can save even a piece of this $36 bil, that will be great step forward.