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Healthcare Shopping: Free Market Solutions to Drive Down Costs

Home/Healthcare News/Healthcare Shopping: Free Market Solutions to Drive Down Costs

Healthcare Shopping: Free Market Solutions to Drive Down Costs

by John Montgomery | The Hutchinson News | October 9, 2015

Healthcare Shopping: Free Market Solutions to Drive Down Costs

Sovereign Solutions Editor’s Note:

We urge you to engage in healthcare shopping, whether you do this yourself or seek out assistance. You shop for anything else. Why should you not shop for your health? Why is healthcare shopping not an established thing? Why is healthcare shopping not even part of our lexicon?

Consider healthcare shopping today. Your financial health may depend on it.

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Here’s a health care solution. Not the only solution but one – one that works toward more of a market-driven system that would drive down health care costs.

National Public Radio last week reported on a New Hampshire company called Vitals that runs a service called SmartShopper. Vitals partners with insurance companies and employers to provide a call center where their insured can shop around their area for tests and medical procedures to find the best prices.

 People can go where they want for their health care, but Vitals pays them if they do choose the low-cost provider. The company pays “rewards” of from $25 to $500, depending on the service. Insurance companies and employers can afford these incentives because the price of medical services can vary widely.

This is smart business. And would make for good health care policy for a country that can’t figure out how to reform its health care system when the successful business model is right before its eyes. The problem with America’s health care system is it has short-circuited the usual business-consumer relationship.

 “Vitals” gets health care consumers to shop around for best prices. It in fact creates a consumer where there previously wasn’t one, because normally we don’t approach health care services like a consumer, like we do for other goods and services we purchase. In our insurance system, we don’t usually shop around. We don’t even pay attention to prices. That’s the insurance company’s problem.

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WHAT DO YOU THINK?

Do you have any objections, thoughts, concerns, or contributions? I REALLY WANT TO KNOW. Help me to make this a conversation!

Together we can map out better solutions and truly navigate clearer paths towards quality services, low prices, and better lives.

Oh! And as always, if you find this post useful, do me and so many others a huge favor. When it comes to this kind of information: share and share alike! Information is meant to be disseminated wide and far.

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By | 2017-03-28T10:15:52-04:00 October 19th, 2015|Categories: Healthcare News|Tags: , , |0 Comments

About the Author:

My name is Matthew. I am founder of and manage Sovereign Liberty Solutions. I am a proponent of free, voluntary association and expression. I understand that there is no single exception or excuse to violate this with the initiation of force, fraud, and coercion. I welcome a genuine dialogue & seek information, news, analysis, and, of course, solutions, whether it be on the individual level or a more voluntary association [group] or even "national" one.

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