Keeping Secrets: How a Common Blood Test Can Cost $11 or Almost $1,000

May 2019
Dan

Another example of big price discrepancies in healthcare costs that are unimaginable in other industries. Even for something simple like a common blood test, consumers don’t know the cost before the bill comes. With Medxoom’s Comparison Shopping technology, employees of self-insured health plans can find out the price of a blood test or other medical procedure before getting it and then go with full knowledge of the cost variances to their provider of choice in their health plan.

“If you’re a patient seeking a metabolic blood panel, good luck finding out what it will cost. Although hospitals are now required to publish a list of the prices they would like patients to pay for their services, the amounts that medical providers actually agree to accept from insurance companies tend to remain closely held secrets. Some insurance companies provide consumers with tools to help steer them away from the $450 test, but in many cases you won’t know the price your insurance company agreed to until you get the bill. If you have an insurance deductible, a $400 — or even a $200 — bill for a blood test can be an unpleasant surprise.”

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By The New York Times | Source: The Health Care Cost Institute

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