By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Transparency: How Healthcare Cost Competes with Real Value
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Business > Finance > Transparency: How Healthcare Cost Competes with Real Value
BusinessFinance

Transparency: How Healthcare Cost Competes with Real Value

Lonnie Hirsch
Lonnie Hirsch
Share
5 Min Read
price transparency
SHARE

price transparencyThe popular buzz-phrase in contemporary healthcare—price transparency—is a relatively new dynamic in the competitive equation for providers and marketing professionals. And it cuts in two directions. On one hand, price transparency—and knowing the cost of medical procedures in advance—is a major plus for public awareness.

price transparencyThe popular buzz-phrase in contemporary healthcare—price transparency—is a relatively new dynamic in the competitive equation for providers and marketing professionals. And it cuts in two directions. On one hand, price transparency—and knowing the cost of medical procedures in advance—is a major plus for public awareness. On the other hand, price is not the only consideration for truly wise (and informed) shoppers.

The Internet, healthcare reform and other social dynamics have been transforming the everyday patient into informed consumers. And nobody on the care continuum—especially the patient—likes the sticker shock experience of being blown away by a huge bill from the hospital or provider months after the fact. Increasingly, informed consumers and employers shop hard for value in healthcare.

With consumers paying more of the cost burden, marketing professionals are tasked with communicating the features, advantages and benefits that give context to price transparency. What about education, training, experience and professional reputation?

More Read

patient engagement
The New Patient Engagement Model: Changing (and Improving) the Way We Do Business
NIH Assigns Some of NFL’s Donations to Fund Concussion Research Projects
Massachusetts Insurance Companies Reveal Health-Cost Calculators
Salesmen in the Operating Room: Whose Best Interest Is at Stake?
Ideal Medtech Products

Tools for the informed shopper…and provider.

Doctors, medical practices and their respective business offices might want to compare the charges for common procedures just as the consumer does. An increasing number of price transparency tools are available online to discover where you stand. Some of these include:

GUROO.COM – The guroo.com website, launched by the independent, non-profit organization, the Health Care Cost Institute (HCCI) is one of the most recent entries. They describe the site as “a consumer-focused website that provides national, state and local cost information for common health conditions and services using claims from multiple insurers for more than 40 million insured individuals – numbers that no one else has. The new website is free and accessible to everyone, regardless of whether they have insurance or who their insurer is.”

HEALTHCARE BLUEBOOK – Providers, payors, employers, as well as patient, can use the online Healthcare Bluebook resource to find a “recommended price for health care services.” The list includes elective care, cosmetic medicine, dental, hearing aids and lab services. They say, “The Bluebook price is based on the typical fee that providers in your area accept as payment from insurance companies. This is the price you should have to pay, even if your provider charges more. You can use this price to negotiate with your provider or shop for an in-network provider that charges a Fair Price.”

NEW CHOICE HEALTH – Similarly, “NewChoiceHealth.com is designed to give you, the healthcare consumer, the ability to make informed decisions about where to access common medical procedures regardless of your insurance type. With NewChoiceHealth.com you can easily locate medical facilities offering the procedure you need and then compare accreditations, number of procedures completed, and procedure cost information (coming soon: quality scores & service levels). You can also request a no-obligation quote from participating medical facilities for common procedures such as MRIs, CT Scans, Mammograms, and more.”

OPS COST – OpsCost.com is an online database to compare hospital prices and charges for common procedures at over 3,300 hospitals, based on government data and user reported bills. The dollars are displayed on a chart as well as on an area map. The consumer has the challenge of interpreting and understanding the long list of medical terminology.

FAIR HEALTH – FAIR Health is a consumer cost lookup, using a “database of billions of billed medical and dental services to power a free website that enables consumers to estimate and plan their medical and dental expenditures. The website also offers clear, unbiased educational articles and videos about the healthcare insurance reimbursement system.”

Informing the consumer…

Physicians, medical practices and hospitals have these same tools comparison tools available as the patient/consumer. The complex world of healthcare costs, charges and reimbursements is admittedly bewildering, especially to the general public.

While there are positive benefits of price transparency for the consumer, there is a greater need for healthcare providers and marketing professionals to fully inform and educate prospective patients that price alone is not the only consideration in the purchase decision. The lowest cost for hip replacement surgery, for example, may not inspire consumer confidence in the outcome.

 

Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

Epidemiological Health Benefits
Personal and Epidemiological Health Benefits of Blood Pressure Management
Health
October 13, 2025
Traumatic Brain Injuries
Understanding Traumatic Brain Injuries: What Families Need to Know
Policy & Law
October 10, 2025
Remote Monitoring touchpoints
Remote Monitoring Touchpoints Patients Will Actually Follow
Technology
October 9, 2025
dental care
Importance of Good Dental Care for Health and Confidence
Dental health Specialties
October 2, 2025

You Might also Like

patient's well-being
Hospital Administration

Comfort And Safety: 7 Ways Healthcare Organizations Can Create A Better Environment For Their Patients

April 4, 2023
Hospital AdministrationTechnology

3 Benefits of Installing Security Cameras in Hospitals 

December 16, 2019

Pharma Tapping into the Power of Social Media

June 24, 2011
BusinessNewsPublic HealthTechnology

CIN Special Report: Part II, Treatments Ready to Eradicate Pre-Cervical Cancer

May 2, 2012
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?