Priority Health in Grand Rapids is rewarding patients anywhere from $50 to a couple hundred dollars if they choose a cheaper option on 300 common healthcare procedures, according to The Detroit News.
Here are five reasons:
1. Some healthcare experts argue the practice is unethical and may impact the quality of healthcare. Patients with complex health conditions often will not benefit from the lowest-cost provider.
2. Blue Cross Blue Shield of Michigan is waiting to see if the industry picks up the trend and if there is more demand for this type of approach.
3. Before obtaining price data of medical procedure options, Priority Health members log-in online and read educational and wellness information. They then can choose from various options while potentially saving on deductibles.
4. Since PriorityRewards' inception two months ago, the payer has paid out more than $40,000 in rewards.
5. This type of reward system is gaining popularity as deductibles increase. The average general deductible for workers whose healthcare plan includes one rose from $584 in 2006 to $1,318 in 2015.
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