For decades, healthcare presented as a noteworthy anomaly in the world of consumer-based services. The average person spends time looking for the lowest price for shoes and the best deals on groceries, the highest-reviewed hair salons and the top-recommended golf courses. Yet when it comes to hip replacements, CT scans, cataract surgeries and other medical procedures, consumers were resigned to heading to the nearest hospital or following primary-care physician recommendations.
But the dramatic increase in high-deductible health insurance plans and the rise of people paying for medically necessary procedures out-of-pocket has changed this tendency toward price apathy. Today, people are viewing healthcare as a purchase, focusing more on cost to ensure they receive the best possible care at the best price.
For The US healthcare system is complex and vast, and while medical knowledge constantly changes every day, the ins-and-outs of running a healthcare facility have stayed relatively stagnant, including the long-standing proclivity for utilizing cost-based pricing when charging for services.
Medical facilities have a history of basing price on any number of factors outside of what consumers are willing to pay. This resulted in an unfathomable range in healthcare costs; for example, the all-inclusive price of a hip replacement can cost as little as $11,500 at one facility and as much as $44,000 at another.
As consumers become more conscious of what their healthcare is actually costing them, their demand for transparency and the ability to search out the best deals is forcing medical facilities to move towards price-based costing; as in, they can only charge as much as the market is willing to pay.
We compile the information you need for the most common procedures and conditions so you can view your options, and costs, side-by-side, allowing you to make an informed, realistic decision about your healthcare without spending hours researching your options. In the end, healthcare transparency is changing the system, placing more power in the hands of the consumer.