7 things to know about healthcare cost transparency

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1 1 prices for medical

services vary... A LOT

prices for medical services vary...

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1 prices for medical services vary... A LOT

take a CT scan

Source: Healthcare Transparency Index

$343

$2,283

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Source: Healthcare Transparency Index

different places charge different things

$6,247 or a knee replacement

$31,160

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Source: Healthcare Transparency Index

no one knows for sure what their doctor or medical center will charge

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BILL

Source: Healthcare Transparency Index

what is cost transparency?

finding out that difference and understanding quality

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Q:

A:

2 cost transparency could save us billions

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2 Source: West Health Policy Institute

$15-20 BILLION in ten years

If all private health plans offered cost transparency tools and incented people to use them, the savings could total

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3 even with insurance, people want to know how much their healthcare costs

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Source: TransUnion

63%

37%

of consumers want to know the full cost of their healthcare, including what their insurance company will pay

The remaining only care about their portion of the medical bill

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knowing the cost is more important as CDHPs have grown in popularity 4

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Source: National Business Group on Health

Source: National Business Group on Health

of large employers will offer a CDHP as their ONLY benefit plan option

33%

of large employers will implement or expand CDHPs in 2015

57%

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of consumers with a $10,000 deductible plan have asked about price.

of consumers with a $10,000 deductible plan have asked about price.

of consumers with a $10,000 deductible plan have asked about price.

of consumers with a $10,000 deductible plan have asked about price.

of consumers with a $10,000 deductible plan have asked about price.

of consumers with a $10,000 deductible plan have asked about price.

of consumers with a $10,000 deductible plan have asked about price.

of consumers with a $10,000 deductible plan have asked about price.

large employers are offering more and more cost transparency tools 5

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of large employers plan to add or expand tools to encourage employees to become better healthcare consumers in 2015

73%

5 © 2015 Change Healthcare CorporationSource: National Business Group on Health

6 the easiest way to compare costs is with online shopping tools

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6 Source: PwC's Health Research Institute

of people prefer to use an online healthcare shopping website when seeking medical services, such as doctors, procedures and hospitals

43%

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most employers plan to introduce a cost transparency tool soon 7

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7 ARE YOU ONE OF THEM?

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49%

92%

Source: Aon Hewitt

of employers plan to offer cost transparency tools in the next 3-5 years

up from currently

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