A Dream Deferred? Price Transparency in the American Healthcare System
By JOANNE RODRIGUES-CRAIG
Financial well-being, or the state
of an individual’s personal monetary affairs, is one of the six core indicators
of wellness in the Gallup-Healthways Well-Being Index. Poor financial
well-being can lead to a whole host of short and long term mental and physical
health issues, including depression, anxiety, troubled relationships and
chronic stress.[1]
[2]
It is surprising how American
hospitals and other health providers have neglected financial well-being when
considering their patients’ health. In a recent study by the American Cancer
Association, 56% of Americans suffer from hardships related to the cost of
care.[3]
Medical costs are the primary cause of 67% of all bankruptcies in the United
States.[4]
To think that health care costs are not having a deleterious effect on
American’s general well-being is a complete fallacy.
Even as a former health technology data scientist, I was largely in the dark about how health provider pricing works. Finding health provider pricing is like pulling teeth; it’s extremely time0consuming, frustrating (and sometimes painful) to get a health estimate for even the simplest procedures. Having poor or inadequate insurance can feel like a weight holding you down during your most vulnerable time, in the midst of a major health crisis.
In 2018 on a fall evening, I took my
daughter to an urgent care clinic thinking she might have the flu. We proceeded
to wait late into the night for a simple fl...
Source: The Health Care Blog - Category: Consumer Health News Authors: Christina Liu Tags: Economics The Business of Health Care clinicpricecheck joanne rodrigues-craig price transparency Source Type: blogs
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