Company offers true cost of common procedures on Web site
Patient Financial Services Weekly Advisor, March 24, 2006
The most important piece of information missing from President Bush's press for wider use of health savings accounts is the true cost of a specific medical procedure, reports the Associated Press.
High-cost procedures, such as gastric bypass surgery, can vary by tens of thousands of dollars, which means a wide range of out-of-pocket expenses for consumers.
HealthGrades Inc., based in Denver, is providing consumers the median cost of 42 medical procedures on its Web site. It plans to add 14 more procedures soon.
The cost of each report is $7.95 and its details include a patient's zip code, age, gender, and insurance co-pay. It will also include expected out-of-pocket costs for people with insurance, the average price that health insurers in the region negotiate, and the average amount the provider charges.
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