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End the duopoly

New law would make healthcare costs transparent

Patients could shop around for the most inexpensive treatment online. SAN ANTONIO — Being blindsided by huge medical bills can be a financial burden for anybody, especially when they are fighting illness. But a new law currently being considered in the next stimulus bill could make that burden much easier to bear.

It is called the Healthcare PRICE Transparency Act. It would require all medical facilities to post payer-negotiated rates for shoppable services so you could easily find the most inexpensive way to take care of your medical needs.

“We’ve all been blind to know prices in healthcare before we get care and then we’ve been blindsided by devastating medical bills many times more than we ever expected to pay,” said Cynthia Fisher, founder of PatientRightsAdvocate.org.

She says that in places where employers have already worked with providers to show those health care costs up front, it has been a huge success for patients.

“We know employers have been saving 30 to 50% for their workers and their employees on healthcare costs by contracting with price transparent providers,” Fisher said.

Let’s say you need a knee replacement, and one hospital would charge $60,000 for treatment. If the proposed law passes, you could go […]

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