Picking up the pace on price transparency

In 2014, comparison shopping for medical care based on price and quality will become easier. Employers are striking exclusive arrangements with providers that deliver high-value care. At the same time, the federal government opened its books on what hospitals bill for relatively common treatments.

Read more about growth of high-deductible health plans and high-performance networks in HRI’s Medical Cost Trend: Behind the Numbers 2014.

What are the implications?

Hospital prices remain a mistery for a majority of consumers
Share this Twitter Linkedin Facebook

Implications of price transparency efforts:

  • Cost-conscious businesses will make transparency a top factor in negotiations with health plans and providers.
  • New health insurance exchanges will fuel the transparency push. As both state and private exchanges take root, those who shop for plans will demand clearer pricing information
  • As employers strike exclusive contracts with high-value providers, competitors will have to drop prices to compete.