Time to Create a True Healthcare Marketplace

Last month, it was my honor to be interviewed by Forbes about the Transparency in Coverage Rule, a groundbreaking government rule that is a very real step toward giving consumers control of how much they pay for health care.

Forbes contributor Wayne Winegarden clearly understood and conveyed the potential impact of the Transparency in Coverage Rule on employers and employees.  The rule requires health care plan sponsors (employers) to give 212 million consumers ready, geolocated access to the prices of virtually every medical test and procedure on the market so they can decide for themselves whether to choose, for example, an $800 MRI of the lower back or the $6,000 one being offered across town.  (The prices for an MRI of exactly the same quality can be that dramatically different, within a 10 miles radius—or less.  The price for the simple blood tests can vary 1,000 percent or more). The required consumer facing tool must also show anticipated out of pocket costs for the employee.