Healthcare prices today are unclear and confusing. You typically don’t know the cost of care until after you receive it, and sometimes you don’t even know until months later. Often, there is no way to know the exact cost of the care you are receiving, which results in being caught off guard by large bills.
On top of that, patients usually go to a local location to receive care, even when they have no clue how the prices compare to other facilities. In reality, the same operations can have drastically different prices depending on where you go.
Why is this important?
There is a longstanding misconception that expensive care means better care. In truth, healthcare prices are determined by the facility a patient goes to, not by the quality of care they receive. In fact, the same doctor can perform an operation with the same medical equipment at two different locations, and there can be thousands of dollars in price difference. Who knew?
Well, now you know, and this increased knowledge of healthcare prices can save you big money. With your HSA-based plan, the less you spend on healthcare, the more savings you will have for the future.
Knowing the price of healthcare gives power back to you, the consumer. It also adds competition to the marketplace, which ultimately leads to lower healthcare costs.
Well, great! How do I know the prices?
MotivHealth has created a price transparency tool that allows you to compare the costs of different providers and facilities before you go.