![]() ![]() ![]() Official government studies, as well as press reports, reveal that hospitals, even those in close geographic proximity, often charge wildly different prices for the same medical procedures and the big price differences even for common “shoppable” medical procedures, such as hip and knee replacements, remain largely unknown to consumers.īy addressing these issues, policymakers can improve the financing and delivery of health care. This massive market consolidation contributes to overall spending and higher premiums and deductibles, and results in less competition, fewer choices, worse health outcomes, and misaligned incentives that structurally compromise the delivery of high-quality care.Īssuming effective implementation and enforcement, price transparency can secure considerable health care savings for individuals, families, and businesses. REF Big insurance plans dominate state and regional markets and giant hospital corporations are expanding their foothold by buying up independent physician practices. Price transparency can help to begin to resolve that problem.Īmerica’s health care markets are highly concentrated. The absence of market forces on medical pricing partially explains the excessive health care costs for individuals and families. Yet most Americans have no idea of the actual cost of even the most common medical treatments or procedures. Americans spend more on health care than any other people on the planet. ![]()
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