slightrightofcenter

In economics, one of the ways to lower costs and make a market more competitive is to ensure that customers have the best information in regards to the product they're buying. Healthcare seems to be this incredibly unique market where the customers seem to just accept an asymmetric information problem. In addition, hospitals in particular seem very reticent to tell a patient, prior to a service, what their service will cost.

What are your thoughts on requiring published price lists for services for hospitals, doctors' office, etc.?

That's interesting to know about Massachusetts, but your point about the range of costs is a perfect example of what I mean. A published cost of pre-coverage prices to allow for better comparison might mean that I decide to get my colonoscopy from a private clinic that's charging $600 before insurance than at a hospital that's charging $4,500. There might be reasons that I would want to pay the higher amount, but the knowledge is important.

Obviously, there are times where making this decision isn't practical, like during an emergency, but for a majority of medical services, the price of the procedure should be part of the consideration, even if my out-of-pocket is still the same.