Our mission is to ensure complete transparency in healthcare billing and pricing, enabling a fair and competitive system that works for all Americans.
Our goal is to make sure price transparency is required of ALL contributors to the healthcare system. When price transparency is required for doctors, hospitals, pharmacies, insurance companies, and every other participant in the American healthcare system, we will have the foundation of a functional healthcare market that we can trust. Trust that empowers consumers is the cornerstone of a healthy marketplace which is competitive, fair, and motivates constant improvement.
Once the shroud of secrecy in healthcare pricing is removed, policymakers (i.e., politicians and regulators) will be able to see where we over-diagnose, overtreat, and overpay, as well as where we may not be investing enough to achieve the outcomes we deserve.
While we are ultimately fighting for healthcare price transparency, we are determined to empower patients today, by providing the system and the tools any patient can use to dispute their own medical bills and by providing information and self-help resources to help everyone become better healthcare consumers.
Price transparency won’t fix everything that is wrong with the American healthcare system, but nothing can be fixed without it.
Why Price Transparency?
Price transparency is essential to a functioning market. The U.S. healthcare system cannot operate as a healthy market without it. Price transparency ensures a basic economic principle is at work: Price discovery.
Price discovery means that we can learn the price we will pay before choosing to move forward with a transaction. Often confused with cost estimation, price discovery does not suggest that we know how much money we will spend in advance. Just as we order food in a restaurant without knowing what our check will be at the end of the meal, price discovery simply implies that we must be informed of the price of everything that we might purchase.
The U.S. has the most expensive yet least effective healthcare of any other high-income nation (OECD 2015). Without price transparency, we will never understand why.
At the same time, prices continue to grow faster than our economy or inflation rate with nothing to show for the higher cost.
Prices are disconnected from both supply and demand and quality, a very abnormal relationship not observed in functional marketplaces.
Healthcare accounts for approximately 18% of U.S. GDP, which is about double what other developed nations spend as a percentage of their GDP (OECD 2015). Without price transparency, the gap is likely to get larger.
Healthcare procedures are among the most expensive services a consumer buys. Costs often exceed the price of a car and can sometimes be costlier than a house. Annual spending on healthcare and health insurance premiums often exceeds today’s mortgage payments. Price transparency will enable consumers, ensure competition and fairness, foster trust, and ultimately lead to a lower overall cost of healthcare.
There is no standard pricing for healthcare; one patient can pay 10 times, or even 1200 times or more than what another pays for the same procedure in the same facility under the same circumstances. No other marketplace would allow this to happen. Price transparency will make sure it not longer can.