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Harvard Study: Shopping For Health Care Fails To Lower Costs

I hate it when there’s more bad news about the health care costs that are devouring our family, municipal and national budgets. (Latest number: $3 trillion, or 17.5 percent of America’s GDP.)

But here it is: A Harvard study just out in JAMA finds that when health care consumers use price-comparison tools, they don’t end up spending less. In fact, they may even spend a bit more, perhaps because they think higher prices mean better quality. So much for the idea that if you just let people shop for cheaper care, prices will surely go down.