Without transparency in the healthcare industry or regulation around pricing, healthcare costs are bound to continue to rise without reason. Changing the industry isn’t a simple task either due to the agreements between insurers and hospitals. Medxoom allows employers and their employees to shine a light into the black box of hospital pricing before selecting a provider.
From The Wall Street Journal:
“Last year, Cigna Corp. and the New York hospital system Northwell Health discussed developing an insurance plan that would offer low-cost coverage by excluding some other health-care providers, according to people with knowledge of the matter. It never happened.
The problem was a separate contract between Cigna and NewYork-Presbyterian, the powerful hospital operator that is a Northwell rival. Cigna couldn’t find a way to work around restrictive language that blocked it from selling any plans that didn’t include NewYork-Presbyterian, according to the people.“