Health insurance could be reinvented to provide medical costs upfront

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Health insurance could be reinvented to provide medical costs upfront
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Patients are increasingly on the hook for health care costs through deductibles, co-pays and other fees. As a result, patients are demanding credible cost information before appointments.

You have scheduled an appointment with a healthcare provider, but no matter how hard you try, no one seems to be able to reliably tell you how much that visit will cost you. Will you have to pay $20, $1,000 – or even more?Patients are increasingly on the hook for health care costs through deductibles, co-pays and other fees. As a result, patients are demanding credible cost information before appointments to choose where they seek care and control their budget.

But airlines – as the final link in the supply chain – provide consumers with upfront prices for the entire trip.In health care, the principal provider from whom a patient seeks care could serve as the price-guaranteeing entity. They would collect a single, guaranteed price for the appointment and compensate other providers involved as needed.

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