2022-08-12

Shopping for the Best Deal- Costs for Medical Health Services Now Made Available to the Public

Consumers, both the individual and employer, will have the ability to compare costs enabling them to choose a more affordable provider for their healthcare services. This rule requires insurers to post their negotiated prices for “every physician in network, every hospital, every surgery center, every nursing facility”, said Jeffrey Leibach, a partner at the consulting firm Guidehouse. 

With access to this data, will patients still make their healthcare decisions based on doctor recommendations and referrals, or the best pricing available?  Will this eventually lower overall health care services, or will insurers raise their prices if the competition is charging more? “How Much Health Insurers Pay for Almost Everything Is About to Go Public”, written by Julie Appleby, and published by Kaiser Health News, provides both detail and insight into how the transparency of this data may impact future negotiation practices in the healthcare marketplace.

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