How much will that cost, doc?
With nearly every purchase the answer to “How much does that cost?” is a simple one. If you want to find the best prices on a pair of shoes, all it takes is a search engine and a few keystrokes. Consumers expect to be able to easily determine and compare the cost of goods. So, when it comes to their healthcare, patients rightly expect a straightforward answer to how much it will cost them.
Unfortunately, determining the price of medical care is much more complicated than, say, comparing pricing on shoes. Driving this complexity is the number of stakeholders involved in the process of selecting and paying for medical treatment. Doctors want a simple message they can tell all of their patients. Insurance companies want to keep costs low and incentivize patients to use in-network providers. Companies want to be accessible to patients, regardless of their insurance (or lack thereof). And finally, patients want to be able to make informed decisions. Everyone wants patients to be able to access the care they need, when they need it.
Laura Martini, Director of Product Design at Counsyl, a health technology company providing genetic testing and counseling services, will discuss general industry trends toward pricing transparency. She will also explain Counsyl's efforts to increase price transparency for genetic screening, and obstacles that need to be overcome in order to give patients an accurate estimate of their insurance coverage for a given medical service.