New Hampshire's price transparency website reduced the cost of medical imaging procedures by 5 percent for patients and 4 percent for insurers, according to a recent study.
The study — led by Zach Brown, PhD, assistant professor of economics at Ann Arbor-based University of Michigan — used detailed data on medical imaging visits to examine the 2007 introduction of the NH HealthCost price transparency website.
The website can be used by privately insured people to gain information about out-of-pocket prices for certain procedures.
Dr. Brown estimated that the website saved individuals $7.9 million and insurers $36 million on X-ray, CT scan and MRI scans from 2007 to 2011.
Overall, spending fell 4.3 percent over the five years for medical imaging procedures on the website, compared to similar procedures not on the website, according to the study.
Dr. Brown partially attributed the findings to a shift to lower-cost providers.
Access the study here.
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