Crowdsourcing healthcare costs: Opportunities and challenges for patient centered price transparency

Paper by Zachary F. Meisel, Lauren A. Houdek VonHoltz, and Raina M. Merchant in Healthcare: “Efforts to improve health care price transparency have garnered significant attention from patients, policy makers, and health insurers. In response to increasing consumer demand, state governments, insurance plans, and health care providers are reporting health care prices. However, such data often do not provide consumers with the most salient information: their own actual out-of-pocket cost for medical care. Although untested, crowdsourcing, a mechanism for the public to help answer complex questions, represents a potential solution to the problem of opaque hospital costs. This article explores, the challenges and potential opportunities for crowdsourcing out-of-pocket costs for healthcare consumers….(More)”.