Healthcare Costs Can Be Easily Reduced - New Report

change:healthcare issued a new tool to aid citizens shopping for healthcare called The Healthcare Transparency Index. This new index shows recent trends regarding the costs of healthcare and where consumers have a chance for considerable savings.

It is reported that over 60% of American employers plan to offer a CDHP (Consumer-Directed Health Plan) in 2011 in order to reduce expenses. The result of this is families will be increasingly responsible for shopping for and then choosing their own healthcare. Knowing the costs of various plans is crucial if families want to save on insurance premiums.

The Index will be published each quarter and will reflect information from over 1.3 million medical claims representing $220 million from 90,000 people located in all 50 states over the course of one year. A significant piece of information included in the index is the fact that prescription drugs are where consumers can potentially save the most. Savings can occur in many instances by just switching pharmacies and opting for generic drugs instead of brand name products. Following prescription drug costs, the best savings can come in the areas of dental care, psychotherapy, and chiropractic treatments.

“The way healthcare costs are hidden from the people who need to understand them has to change,” said Christopher Parks, CEO of change:healthcare. “We created the Healthcare Transparency Index to highlight the most significant healthcare trends, and even more importantly, the cost savings opportunities that we believe every person should understand BEFORE they are forced to make important decisions about their care.”