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Price transparency will only help by putting pressure on providers for PR purposes, but it will not cause free market dynamics because much of the health care s
by Joeri 5y ago
Price transparency will only help by putting pressure on providers for PR purposes, but it will not cause free market dynamics because much of the health care sector is not a real market. Take stitches, who would actually shop around before having the stitches done? You would go to your usual hospital and pay whatever the price ends up being. All urgent care is not a market from the point of the patient, because there is no real opportunity to choose providers. Insurers have to follow the patient or be blamed for not supporting out of network care, so insurers have little market shaping power either.
- AuryGlenz 5y agoI don’t believe most medical care is urgent, but I would say the bigger factor is insurance. If you’re going to blow through your deductible anyways the price doesn’t matter much to the consumer.