An opinion piece in The Detroit News, by Cynthia Fischer, founder of PatientRightsAdvocate.org, states that health care cost transparency can lower patients’ bills. She feels system-wide price transparency will revolutionize American health care. Competition and choices will put downward and convergent pressure on prices just like in every other sector of the economy where actual costs are known upfront.
Health care price transparency can put runaway cost trends in reverse by allowing consumers to shop for the best care at the best prices, creating a competitive health care market based on consumer choices. Armed with actual prices, consumers can identify examples of price gouging and choose better value alternatives. Patients and employers can lead the consumer-driven health care revolution. Employers can steer their employees to the highest quality care at the lowest possible price, and share the savings with them in the form of bonuses and higher wages.
- The Detroit News: Opinion: Health care cost transparency can lower patients’ bills