April 16, 2013

NOW MAKE THEM PAY THAT PRICE OUT OF THEIR OWN SAVINGS:

How to Cut Health Costs in One Easy Step (Fiscal Times, April 16, 2013)

In a six-month study, researchers found that offering upfront price information decreased overall use of diagnostic tests by roughly 9 percent, saving hundreds of thousands of dollars.
 
"There's a lot of waste in medicine because we don't have a sense of the costs of much of what we do," says Leonard S. Feldman, assistant professor at the Johns Hopkins University School of Medicine.

Hospitals typically keep both patients and providers essentially blind to the cost of medical services, contributing to the astronomical cost of health care in the United States, researchers say.

"There's no other area of our lives in which we don't even think about costs," says Feldman, leader of the study published online in JAMA Internal Medicine. "If one test costs three times what another does and provides basically the same information, that's a pretty easy decision. We need to give that information to those who need it, and we really have done a disservice to society by having our head in the sand about costs."

Posted by at April 16, 2013 7:49 PM
  

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