Most of us have a limited understanding of the actual costs of our health procedures because the only costs we see are our deductibles and co-pay. One local clinic is betting that patients will make better choices if there is transparency in cost. The Everett Clinic became the first large health care system in the state to list all its prices online and at its clinics. Here’s the story.
Rajiv tells a story about how he privately paid for some dental work. Out of curiosity, after he paid for the work he asked how much an insurance company would have been billed. He was surprised (as well as angry) to find out that the insurance company would have received a bill for about a quarter of the cost. Having information about the cost of procedures up front provides you with some leverage to negotiate on your own behalf.
Here are some stories I’ve written about price transparency.
What do you think: should doctors post the cost of procedures?