Why Price Is a Key Driver of Health Care Spending
A report from the International Federation of Health Plans released today compared prices for common medicines and services around the world, and showed that American patients pay higher prices for prescription drugs and common procedures like MRI, CT scans and childbirth than any of the other 9 countries that were profiled.
IFHP’s Chief Executive Tom Sackville explained why he believed to the data to be important: "We have looked here at a number of procedures and products which are identical across the markets surveyed. The price variations bear no relation to health outcomes: they merely demonstrate the relative ability of providers to profiteer at the expense of patients, and in some cases reflect a damaging degree of market failure.”
For example, an MRI on average in the U.S costs $1,145, which is 2.5 times more than what the Dutch pay for the same procedure, on average, at $461.
Read the entire International Federation of Health Plans Report below: