When you buy a car, does the auto dealer say, "Take that car, it's all yours. And I'll tell you what the price of it is when you get home?"
Of course not. But that's how the healthcare business does pricing. As a strategy, it doesn't work for anyone — not the patients, employers, insurers, or providers. An idea called bundled care could help change that.
Johns Hopkins is one institution at the forefront of bundled care. They're bundling transplants, cardiac procedures, complex cancer procedures, and even anorexia treatments.
The marketplace is going to these bundles because they're cost effective. As employers waive the deductibles, they waive any co-pays so that it costs nothing for the employee to go through this.
Employers are lining up to take advantage of the option because it helps them save an average of 20%-60% on the cost of their employees' care.
The employees themselves save on out-of-pocket expenses, and since many of those end up written off as bad debt, hospitals are also saving substantial dollars.