Price transparency experiment shows consumers choose lower-priced care

08/6/2014 | Vox

A health insurer's price transparency experiment found that consumers who had access to area provider pricing for magnetic resonance imaging procedures tended to chose the lower-priced option, and higher-priced hospitals subsequently lowered their prices. The insurer offered pricing transparency in some cities but not in others and compared utilization rates. There was no penalty for using the more expensive service.

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