MORE TRANSPARENCY MEANS LOWER COSTS?

From the patient perspective, offering them a level of price transparency may guide healthcare consumers to seek lower and affordable prices. It is fair to clarify that there are other factors in seeking and receiving healthcare services playing a role in determining if competitive practices may be capable of affecting healthcare costs.

Consumer’s habits and their interest in shopping for healthcare services must evolve, and for this to happen, patients advocate, startups, the government and healthcare practitioners must work really hard to motivate and improve patients’ confidence in the healthcare system. Consumers tend to rely on their specialists or their primary care physicians for advice and guidance on quality hospitals, treatments, and procedures for their conditions. 

The main goal is to guide consumers to discover the new economics of purchasing and decision-making process to schedule and have the medical service of their interest. Providers and startup’s innovations will have a big impact on how efficient information accessibility will be. Technology is the best resource to make the medical services purchasing method an excellent experience as it is today when purchasing other commodities.

The finalization of the rule may influence the future decision of healthcare consumers, providers, and third-party payers. The Price Transparency and No Surprise Bill implementation will dictate how healthcare cost is impacted.

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