Employees Face ‘Ridiculous’ Price Swings in Healthcare Choices

Nov 2018
Dan

The absence of comparison shopping tools tied directly to an employee’s health plan leads to overpaying for most medical procedures and ever higher healthcare costs. Before getting a medical procedure or service, Medxoom gives employers and their employees the ability to compare the price and quality of specific procedures at providers in their network based on their own plan’s historical data. Medxoom’s private label mobile technology platform provides much-needed comparison shopping, claim payments, and CRM for employer health plans.

From Employee Benefit News:

“Healthcare prices are out of control, pricing abuse is rampant, pricing disparities are ridiculous, and quality is hit-or-miss. Despite the availability of cost and quality data, employees must navigate the healthcare system blind and alone, unaware of the potential for huge cost savings and the health risks from low-quality providers.

For example, a recent Consumer Reports survey of U.S. pharmacies found that a basket of five popular generic prescription drugs ranged in price from just $66 for all five medications at online mail-order pharmacy Healthwarehouse.com to $928 for the same five drugs at CVS/Target. That’s a price difference of over 1,300%…for the exact same drugs. The report also identified plenty of pharmacies charging a fraction of CVS/Target prices.

Yet no one alerts employees to these price differences and guides them to fill their prescriptions at lower-cost pharmacies, despite the epidemic of prescription non-compliance due to high drug costs.”

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