Healthcare cost is nothing more than a math problem. Anyone that has a math background could figure out the answers to it.
The trouble with solving the problem, however, is that pieces of information are missing.
You can't find the sum of an addition problem without knowing what the addends are. And you can't determine what healthcare costs are going to be (or if a procedure is worth it) without knowing some basic data up front.
Yet, that data is often missing. Healthcare may be the only service in the economy where you don't know the price until after delivery.
Often, providers don't know the cost because they don't know your plan. And you don't know if your cost is reasonable.
That's a transparency problem.
On the most recent episode of Healthcare Simplified, we talk with Jeff Toewe, CEO of Medxoom, a company that helps members discover and have intelligent conversations about what a service should cost before it's delivered.
Jeff talks about healthcare transparency, cost containment, coordinated care, advanced payment, and the state of healthcare delivery.
To learn more about Medxoom, check out the rest of our interview with Jeff, the latest guest on the Healthcare Simplified podcast.