What is Transparency in Healthcare?

magnifying glassThe strategy of transparency is rapidly gaining momentum within the field of insurance, and throughout healthcare. Employers, committed to providing benefits for their employees, are now enlisting the services of transparency providers to cut healthcare cost. But what is transparency?

Transparency, in its simplest form, is the disclosure of the quality and cost of healthcare providers. Traditionally, when someone undergoes a medical procedure they do not have a reasonable idea of the cost of the procedure—whether it be a knee replacement, kidney transplant or MRI. Furthermore, they often lack an adequate understanding of the quality of the medical care they are to receive. Transparency allows the consumer to gain knowledge of the cost and quality of care before choosing Read more of this post