Health Affairs September 8, 2023
Unlike in many other countries where prices are largely determined by the government, health care providers and insurers in the U.S. have the ability to negotiate prices using market forces. As has been well documented, this price negotiation system has resulted in high and variable prices in the commercial sector. Due largely to high prices, the U.S. spends more than any other country on health care. High spending comes directly out of worker wages and tax dollars.
Unlike prices in nearly all other U.S. markets, U.S. health care prices are notoriously opaque. While patients have some insight into health care prices through price transparency tools, employers—responsible for providing health insurance benefits for over 150 million Americans—have little insight into prices...
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