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An insurer-initiated price transparency program that focused on elective advanced imaging procedures resulted in reducing variation in prices for magnetic resonance imaging (MRI) by 30%. The program provided patients who had at least one outpatient magnetic resonance imaging (MRI) scan in 2010 or 2012 with information about price differences among MRI facilities, and given the option to select another MRI facility. The program resulted in an 18.7% cost reduction per test and a decrease in use of hospital-based facilities. Price variation between hospital and non-hospital MRI facilities dropped by 30%.

MRI Costs At Freestanding Or Office . . .

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Weekly News Wire | August 24, 2014

MRI Price Transparency Reduced Price Variation By 30% & Total Cost By 18%

An insurer-initiated price transparency program that focused on elective advanced imaging procedures resulted in reducing variation in prices for magnetic resonance imaging (MRI) by 30%. The program provided patients who had at least one outpatient magnetic resonance imaging (MRI) scan in 2010 or 2012 with information about price differences among MRI facilities, and given the option to select another MRI facility. The program resulted in an 18.7% cost reduction per test and a decrease in use of hospital-based facilities. Price variation between hospital and non-hospital MRI facilities dropped by 30%.

MRI Costs At Freestanding Or Office . . .

Want To Read More? Log In Or Become A Paid Member
Resource Available For Paid OPEN MINDS Circle Members Only
Not a paid member? Don't miss out! Sign up today and receive unlimited organizational access to all OPEN MINDS strategic advice, market intelligence, and management best practices – over 250,000 resources!
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If you are already a paid member, log in to your account to access this resource and more. If you are a free member, you will need to upgrade to a paid membership before accessing this resource.

Become A Paid Member
If you are not yet a paid member, learn more about the OPEN MINDS Circle Market Intelligence Service Membership on our website, reach out to our team at info@openminds.com, or call us at 877-350-6463.

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