When Consumers Pick up the Tab, Health Care Prices Decrease

Jan 2019
Dan

“Hospitals are like any other business trying to make a profit; they can ask more from a company like an insurer than they can from an individual” – Medxoom’s technology allows the consumer to further reduce their out-of-pocket costs by comparing prices and quality of healthcare services across doctors and providers BEFORE they receive their needed health service. Learn more about how Medxoom’s technology platform provides the ability to shop prices, manage payments; and for employers, provides full reporting of healthcare cost savings can be achieved.
From BenefitsPRO:

For the entire cosmetic breast augmentation procedure with silicone implants Rosen charges $6,500. That’s $500 less than the charge for just Daniels’ silicone implants at the nearby Hospital of the University of Pennsylvania.

Jena, the Harvard health economist, said the reason behind many of these price markups is that hospitals are like any other business trying to make a profit. They can ask more from a company like an insurer than they can from an individual.

Of course, when dealing with powerful insurance companies, hospitals don’t get paid the full asking price conveyed on their bills. The price is often merely the starting point for negotiations with insurers.

Read More

 

Medxoom can help.

Learn more about how Medxoom can help lower healthcare costs now.

Sign up for our newsletter to stay up to date with our app.