All industries compete on price and efficiency, but the healthcare industry exists to maximize billings and revenue.
They do not compete on price and efficiency. Knowing prices creates competition. Competition creates efficiencies, supply chain management, and opportunities for new businesses to enter the marketplace to provide lower cost alternatives. Prices are determined by supply and demand. That is how capitalism works. The basic principles of economics do not currently exist in healthcare making it one of the most costly and inefficient industries in the world.
Our vision is to empower the stakeholders of healthcare (doctors, hospitals, and patients) to discover the true cost of care so that they can be the custodians of their own future. To be sure, healthcare is complicated and needs experts to guide people to best health and financial outcomes. We want to empower all players in the healthcare ecosystem with knowledge to be successful. When all stakeholders are working in concert to keep costs under control, money will be redistributed back into businesses’ and families’ budgets. This will have a profound impact on growing a healthy economy, as well as, helping people achieve economic freedom. We wish everybody health, peace, and prosperity.
SOURCE: Health Cost Labs