One of the main goals of the Affordable Care Act is to make the costs of healthcare transparent so that consumers can make informed choices. Consumers have traditionally been in the dark about medical costs, from health insurance to lab tests and hospital procedures. The high prices of insurance premiums and medical practices, and the shift of more expenses by companies to their workers in the form of higher co-pays and deductibles, makes the issue of cost even more critical today.
Now, there’s a successful model of how transparency can affect the market. The state of New Hampshire has received an “A” rating for medical price transparency in a report from the Health Care Incentives Improvements Institute and Catalyst for Payment Reform. The state has an all-payer claims database that has resulted in lower prices for insurance and care. It's a good example of disruption resulting in innovation in the healthcare sector.
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