The employers and people of Summit County in Colorado banded together to lower the prices at their hospital by 20% – a move that could spark change across the nation. One of the key factors in accomplishing this was the power of leverage gained by the knowledge the hospital was charging 5 to 8 times what Medicare was paying for the same procedures. Medxoom can help provide employers and their employees the much-needed knowledge of local price and quality variances with our proprietary comparison shopping tool prior to getting care.
From The Colorado Sun:
“In the stodgy world of health policy, this is about as cinematic as it gets: A group of small-town locals, fed up with high prices, fighting together for a better deal from two powerful industries. And, despite those challenges, they appear to have pulled it off. When many people in Summit County go shopping for health coverage next year, Drangstveit said they could see premium prices 20% lower — a savings of hundreds of dollars a month for families.
At the heart of the debate nationwide over health care prices is the question of leverage. When it is difficult to know how prices for health services are set — and when those prices are then filtered through an insurance company, which sets its own prices — how can consumers exert power in the marketplace?”