October 04, 2017 | By Jonathan Kaplan, MD, MPH
Price transparency is the current and growing buzzword in healthcare. There are many ways to go about making healthcare costs clear to consumers. But when entrepreneurs design their own solution to price transparency, they miss one very important ingredient: actionable pricing information. The best way to accomplish this is through bundled pricing.
Bundled pricing in healthcare
Price transparency websites present their “solution” in various ways. Some sites collect claims data and analyze it. In other words, they look at the claims’ consumers make to insurance companies, how much the insurance company pays and how much is left to the consumer. This information is then made available to the consumer in the form of averages.