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July 10, 2019

Why Healthcare Pricing Transparency Is Important

The fact that healthcare can come with high costs is of no surprise to many patients. However, what does surprise plenty of people is when stated costs are different from accurate costs. Also, some patients may find themselves stymied when they try to procure an itemized, specific bill of their healthcare costs. Both of these situations, patients who are provided with inaccurate prices and patients who are blocked from specific details, are negative for a variety of reasons. Make certain that your healthcare price is transparent because doing so has a host of benefits.

Proper Healthcare

Healthcare pricing transparency is pivotal so that patients can procure the full and total treatment that they need. In other words, envision a medical procure or course of treatment that contains multiple components. Now, imagine that patients are told the pricing only for the first step or element. Once this process is finished, they are then surprised by the additional healthcare costs. If they cannot afford those costs, they may have to stop treatment in the middle. Therefore, they then lack the ability to obtain the proper treatment. In some cases, having a partial treatment may prove more harmful than no treatment at all.

Access to Medication

Individuals are sometimes shocked when they visit their pharmacist to pick up medications. Since some medications are crucial for people to have healthy and productive lives or to continue maintaining a healthy existence in any capacity, medication pricing transparency is basic decency. Patients should not have to guess at the cost of their medications. Furthermore, they should not go to pick up their regular prescription to find that the price has skyrocketed. The healthcare industry must remember that not all people can afford the costs of medication. Without their medications, these individuals could die. Another part of medication pricing transparency is expressing honesty about different options. In other words, some pricier medications have a less costly generic equivalent. Telling patients about these options can seriously ameliorate their health.

Planning Ahead

Transparency about the cost of procedures, medications and other elements of healthcare also means that patients can plan for the future. If they know that an expensive procedure is on the horizon, they can begin to save up for it, or they can look into alternate methods of funding it. When healthcare providers try to hide costs at the beginning, they are putting undue stress on patients for later on down the road. They might try to hide the costs because they are afraid that the high sums of money will scare patients away. However, what they are really doing is stifling the odds that the patients will want to stay with the practice in the long term.

Better Business

If patients are lied to about their healthcare costs, practices must ask themselves why these patients would even want to continue using these services. Keep in mind that an outright lie is not the only way to turn patient away. When patients find out that a practice did not provide the full details, they are likely to feel that the information was kept hidden. A practice that is known for violating the transparency of healthcare pricing is likely to see patients find new places to go to for their healthcare needs.

Trust in the Practice

People need to trust their doctors, and too many individuals don't for a variety of reasons. Some of these reasons might come from the fact that information about healthcare costs has been withheld. Simply having trust patients is a great way to build rapport with the community. Remember that many patients post reviews of doctors and other healthcare practices online. Therefore, a reliable and honest healthcare practice is likely to see more positive reviews of itself on the internet than one that constantly hides information about costs.

Transparent pricing is so important in the healthcare field because these costs can really skyrocket. Letting patients know specifically and directly about the costs of procedures, medications and other elements can help to establish a strong relationship built on honesty and trust.

Our plans provides discounts at certain providers for healthcare, wellness, and lifestyle services. Members must pay for all services at the time of service, but will receive a reduced price from those providers who have contracted with the program operator. Providers may not be available in all locations. Offers are subject to change without notice.