It's no news that medical bills can seriously break the bank. However, have you ever thought about checking the prices before you headed to the hospital? We compare prices for cars, houses, technology, etc. But the concept of comparing medical prices is new to me. Well, starting January 1, 2019 patients will be able to know ahead of time an estimated cost of the service they want.

According to WREX -

Patients will now have increased price transparency at U.S. hospitals. A new federal rule requires all hospitals to post an online list of the cost of their standard services. Patients will be able to compare prices before seeking treatment. Some consumer advocates said even though those lists will be beneficial, it doesn’t do enough to inform patients about adjusted and sometimes increased costs due to insurance and other factors. Prices are expected to be online on January 1.

Fox details -

The new rule, called the Inpatient Prospective Payment System rule, is part of a Medicare program aimed at pricing transparency in the healthcare system. It allows patients to compare prices before seeking treatment.

For more details head here.

H/T WREX 

H/T Fox 

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