Rising healthcare costs are a well-known issue in the U.S. healthcare industry, but the reasoning behind increased costs isn’t always clear (intentionally), which provides a perfect environment for continued rising costs. Medxoom can help employers and their employees chose lower cost higher quality providers before a doctor or hospital visit.
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.
The lack of transparency in the industry continues. Benefits broker Carl Schuessler, inspired by his wife’s procedure, looks more into why a simple question like “How much is this going to cost?” cannot be answered. If Carl’s family had Medxoom, he could have looked up the price for the HIDA Scan at various local providers and selected the lowest cost highest quality provider before going.
Healthcare patients continue to experience excessive billing from hospitals, including Surprise Bills sent directly to patients, known as Balance Billing in the industry. This practice, usually a nasty surprise to the patient, can cause irreparable financial harm and stress and are a reason why Medxoom helps provide transparent healthcare costs prior to medical procedures for consumers, employers, brokers, and TPAs alike.
This article exudes exactly the problem we’re solving through Medxoom’s proprietary shopping and quality comparison software. The unknowns on procedure costs vary so widely and consistent data is so scarce that it’s almost impossible to gauge an estimate from a hospital. Medxoom is the solution to this problem.
Healthcare inflation continues year after year with job, industry, and population growth. We would expect better operations, systems, and efficacy in the industry, but instead, financials are scarce and executive to doctor wage gap is becoming larger. Medxoom is at the forefront of this national issue – learn more about our proprietary healthcare shopping and quality comparison software and unique payments capabilities.
Profits are soaring for Health Insurers and profit projections are only increasing. Wall Street doesn’t like declining projections and these are public companies. The question is, who is looking out for the consumers best interest? Medxoom helps employers and their employees find the highest quality lowest price medical providers.
“The U.S. spends more per capita on health care than any other developed nation. It will soon spend close to 20% of its GDP on health” – We’ve shifted from spending on health services to spending on health insurance, and the problem is the insurance company and healthcare providers don’t disclose pricing for services, procedures, or medications and costs are rising faster than inflation. Medxoom can help self-funded employers shine a light on opaque pricing.
Healthcare costs vary not just across hospitals, doctors, and procedures, but prescription costs as well. Many times there are so many partners layered into the logistics of the healthcare industry, that costs become grossly inflated for including everyone’s service. The problem isn’t always that there are so many partners involved, but that there’s no way to compare options as seen in this article. Medxoom can help you find the lowest cost prescriptions.