One idea discussed during the health care debate was price transparency. Apparently this means all involved parties knowing the cost of a procedure or medication beforehand. This seems so obvious it’s hard to believe it isn’t the case. But with Aydan’s birth and subsequent pediatric care I’ve learned it’s not. Actual conversation:
Me: How much will this cost?
Doctor: Why? It’s covered by your insurance. (I don’t think she actually knew that for sure)
Me: I’m just interested.
Doctor: I’m not really sure.
It seems painfully obvious that if none of the purchasers of a product know the price, and if a third party is paying, all possible incentives line up for over-charging and over-prescription.
Perhaps my free market beliefs are getting the better of me, but if a patient is partially responsible for payment, and knows the cost of each item, better financial decisions will be made.
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