The strangest aspect of our healthcare system is the lack of transparent pricing. It begs the question: why? Why can’t we see what our healthcare services, procedures, and tests will cost BEFORE we get care?
This lack of price transparency in health care has caused 57 percent of Americans to receive a surprise bill. It shouldn’t take a pandemic and recession to show how fundamentally devastating that can be.
The Healthcare PRICE Transparency Act—which has been introduced in both houses of Congress—will make healthcare prices available to patients upfront, so patients have more control over their care.
The average American family spends $28,000 per year on healthcare expenses and insurance coverage. But leading economists—like Art Laffer, Larry Van Horn, and Steve Forbes—all agree that price transparency could lead to reductions in healthcare expenditures by as much as 40 percent.
That’s $11,000 per family every year! And that’s one way to revive the economy and our pocketbooks.
Price transparency is a win for all Americans: it will lead to lower healthcare expenses, greater patient control, more healthcare choices, and better financial certainty.
