Today all healthcare providers have a charge master that's used to bill patients without insurance and to negotiate discount with healthcare insurance providers. This information should be made publicly available similar to how the auto manufacturers and dealers must disclose a manufacturer's suggested retail price (MSRP). Even though patients with insurance never pay the charge master rate, this disclosure can be used by insurance companies during their negotiation with the providers, and this disclosure creates incentives for the healthcare providers to set charge master prices based on their cost. The pricing information will also enable better third-party consumer services that can help patients to “shop around”. It's time to bring transparency and free market economy to healthcare
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