Healthcare cost transparency is the ability of the patient to discover how much a particular medical service or treatment costs, preferably before receiving the service or treatment. In practice, the cost of healthcare is largely unknown to the patients prior to treatment. Costs can vary from company to company and also from doctor to doctor and this variation can make it extremely difficult for people to understand the costs of their treatments and plan financially for treatment.
Many health care reform initiatives aim to change the current system by educating consumers on the costs of their health care services. If you would like to know more, check out guroo.com. The site offers comparisons of national, state and local cost information for common health conditions based on 40 million individual insurance claims. You can also access similar information on your insurance company’s website.
Source: Health Care Cost Institute and Health