In the healthcare industry, price transparency — knowing the price of a procedure before it’s performed — is a well-known problem that we at Medxoom have been working to help solve. This recent Executive Order from the White House requiring public price disclosure for medical service means that there may be a change coming. While we wait for government laws to take shape, Medxoom can help. Our technology helps employers and their employees by making it very easy to do pre-visit comparison shopping for price and quality based on their plans historical claims data and public government hospital pricing data.
From The Wall Street Journal:
“About 158 million people get their health insurance in the private employer market.
Price disclosure is rapidly emerging as a major issue on Capitol Hill. A May 21 bill sponsored by Sens. Bill Cassidy (R., La.) and Michael Bennet (D., Colo.) would end contractual gag clauses between providers such as hospitals and insurers that can restrict the ability of patients to get cost information.
Sen. Ron Wyden (D., Ore.) introduced legislation this month that would make insurers tell consumers what their out-of-pocket costs would be for drugs or in-network procedures.
‘In a grocery store, you can get a price check for a can of peas on Aisle 2,’ Mr. Wyden said. ‘Health care is much more difficult, but it ought to be a lot easier for Americans to find out what they will have to pay before they get to a doctor.’”
Read Now