Healthcare News & Insights

Guess the procedure cost, win a prize!

In news that will come as a surprise to no one, a new study shows it’s essentially impossible for patients to find out in advance what a particular procedure or treatment will cost them.

That’s the conclusion drawn from a recent report by the General Accounting Office (GAO).

A number of factors, play a role, including the variety of insurance benefit plans, inability of physicians to know in advance if certain tests or additional procedures will be likely, how much of a deductible a specific patient has already met, as well as the secrecy that surrounds the negotiated rates of payment between insurers and providers.

 

The lack of transparency is more than an annoyance.  It makes it harder for patients — whether insured or not — to make decisions about which non-critical tests and procedures are worth performing.

To see the full report, click here.

 

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