Price transparency could lower healthcare costs by 14%

A recent study published in JAMA examined claims data for half a million patients between 2010 2013, according to a report from the AJMC.com Managed Markets Network.

The study was designed to determine whether or not an employer-sponsored price transparency platform could lower claims payment for laboratory tests, imaging services and clinician office visits. The study authors compared payments between patients who utilized the price transparency platform and those who did not.

The researchers found patients paid an average of $3.45 less for lab tests, $124.74 less for imaging services and $1.18 less for office visits, according to the report.

The authors concluded that price transparency, if supported by lasting patient utilization, could lead to significant savings.

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