Why is Healthcare Price Transparency Important?

Healthcare price transparency refers to readily available information on the price of healthcare services to enable patients to compare providers and better predict their healthcare costs. In recent years, healthcare price transparency has become a national priority to help spur competition between providers and drive down costs while improving the quality of care. These initiatives offer a great starting point but still lack in providing patients clarity of their healthcare costs.

Mira is driving down the costs of healthcare by offering membership for affordable copays on basic and preventative services. Mira members don’t have to meet a deductible for coverage to start and are only responsible for the affordable copays of services as soon as their membership starts. With Mira, there is no guessing. Sign up yourself, your family, or your employees today!

What is Healthcare Price Transparency?

Healthcare price transparency can help healthcare consumers better anticipate the costs of care. Nearly 88 percent of Americans believe the government should require hospitals and insurers to disclose prices. Transparency in healthcare costs is especially important for those with high deductible health plans or those who do not have insurance.

Price transparency can take many forms, but the overall intent is to increase consumer knowledge of health care prices. According to the National Conference of State Legislators, the theory with transparency is “knowledge is power,” where if a patient has sufficient understanding of the costs for a health service prior to receiving care, they can seek high-quality services at the lowest cost. Such information is also important for lawmakers and other stakeholders to be able to pursue effective cost containment strategies and policies.