BC Advantage - 2020 Issue 3

Demystifying Price Transparency and Patient Billing

Competitive pricing is one of the most important aspects of a capitalist economy. While the U.S. economy has always had a capitalist structure based on supply and demand, our healthcare system has mostly functioned outside of the norms that keep other industries thriving and in check.The principles of competitive pricing are simple. By having advanced knowledge of the cost and apparent value of the items they are purchasing, consumers can shop around to find the best prices for the items they want or need. This, in turn, pushes businesses to keep their prices as low as possible...

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