News Headlines Article

Why patients who shop by price aren’t going to slow healthcare spending
Modern Healthcare

Don’t expect the market power of price-conscious patients to slow U.S. healthcare spending. Patients who sought what researchers consider “shoppable” healthcare—care that can be scheduled in a market with some competition—had out-of-pocket costs that accounted for 7% of all spending for privately insured patients, new research from the Health Care Cost Institute shows. The study underscores the potential limits of depending on patients as consumers to compel hospitals, clinics and laboratories to compete more aggressively on price, a strategy some policymakers believe could help reduce unnecessary spending.