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Knowing prices tied to lower healthcare spending

By Reuters  
   October 24, 2014

People who search and compare the prices of common healthcare services tend to spend a bit less than people who don't, according to a new study. The overall amount of money people and their employers spent on office visits, laboratory services and imaging tests was between $1 and $125 less than normal when they looked up the prices ahead of time, researchers found. "It makes sense," said the study's lead author Christopher Whaley, from the University of California, Berkeley. "If you give them the information on services, they respond to it." He and his colleagues write in JAMA that people are paying a bit more of their own healthcare costs after recent changes to the U.S. healthcare insurance market.

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