As physicians, is it possible to give transparency to patients for the cost of medical procedures?

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Transparency in healthcare costs

As physicians, is it possible to give transparency to patients for the cost of medical procedures?

As physicians, is it possible to give transparency to patients for the cost of medical procedures? 1 As physicians, is it possible to give transparency to patients for the cost of medical procedures? As physicians, is it possible to give transparency to patients for the cost of medical procedures?

Understanding or knowing what other providers charge is a useful piece of information. Knowing the lowest possible prices- especially for procedures that even the doctors may outsource could help them get better margins? Can doctors negotiate a better rate with insurance if they know what insurance companies are paying other doctors?

It could be possible that paying cash for medical needs could be an advantage for some doctors. It helps eliminate the middle man of insurance companies when it comes to doctors getting paid. It can be a hassle trying to get paid. Insurance verification can sometimes take longer than expected, and most often, patients can’t afford an expected medical bill even after insurance. Could this be a faster/more natural solution for getting paid? What’s worse is that sometimes patients don’t understand the cost or the break down of their medical expenses. How many times have you received an unexpectedly high bill in the mail?

Can a free market exist in healthcare?

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What if you were able to make a price comparison on the cost of an MRI, teeth filling, or mammogram? What if that information told you the different prices and the location of where to get these operations? The only catch is, you would be paying out of pocket instead of going through your insurance company. Clear Health Costs is a website that can do just that. The purpose of this site is to shed light on health care pricing.
“People should be able to know what things cost in health care. If you knew that your MRI could cost $350 or $6,200, maybe you’d choose a different provider. Maybe you’d wonder if your rising insurance premiums were being used to pay high prices for procedures that could  be obtained for less money. Maybe you’d think differently about the entire marketplace.” – www.clearhealthcosts.com

As physicians, is it possible to give transparency to patients for the cost of medical procedures?

As physicians, is it possible to give transparency to patients for the cost of medical procedures?

Give patients the option to shop based on price and quality

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With this website, people can also share their prices on what health-related procedures cost. Together through different communities across the country, they are gathering information to share with other individuals so those people can decide if it would be cheaper to pay out of pocket for healthcare or use their insurance.

Clear Health Costs informational website is still relatively new. So searching for the cost of tests, treatments, or services might not be as transparent in your area as others. As more patients, providers, and communities shed light on their costs, then yes, it will become easier to find an out of pocket best solution for treatments.

What’s your opinion?

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So which is better, Using a cash deal when it comes to healthcare costs or using your insurance? I’d say it sounds like both solutions would work to your advantage. Most people don’t want the “cheapest.” The cheapest can sometimes mean a lack of quality. If your insurance is willing to pay a good portion of a high-cost medical procedure, would you instead use your insurer for the best care? If you know in advance what medical procedures you’ll need, then yes, it would be wise to shop around and maybe use a cash deal approach. It all depends on the reason for your doctor’s visit, but would you use a cheap cash option approach for cancer treatment?

In my opinion, if you’re stuck in a bind and have a medical emergency, then perhaps your insurance might be your best bet. I had an accident where my front crown cracked. Since the incident happened on my front tooth, I, of course, was too shocked and panicky to stop and think about trying to find a cheap dentist. Instead, I called my local dentist, and they saw me within 30 minutes. Now, without insurance, out of pocket, my new front crown would have cost $1,000, but luckily with my insurance, I only pad $500. Could I have found a cheaper option and paid out of pocket? Maybe, but they did a fantastic job and saw me within 30 minutes of cracking my tooth. So I’d say the $500 was worth every penny to have my front tooth fixed.

As physicians, is it possible to give transparency to patients for the cost of medical procedures?

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