An experiment allowing patients access to healthcare cost data performed by the California Public Employees Retirement System shows access to cost data may reduce healthcare spending, according to a report from Kaiser Health News.
The CalPERS program in partnership with Anthem Blue Cross started an initiative to guide enrollees who needed a hip or knee replacement to hospitals in which the procedure cost less than $30,000. Patients who chose to participate paid only their plan's deductible and coinsurance up to the out-of-pocket maximum cost. Patients who chose other in-network facilities paid regular cost sharing and any costs over the $30,000.
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Since the beginning of the program, CalPERS has saved $2.8 million and $300,000 in patients' cost sharing, according to the report.
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