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Transparency in medical pricing

December 22nd, 2009 by Formosa Medical Travel

One of the draws of medical tourism – alongside low costs and high quality care – is the transparency in pricing. In many cases in the United States, patients find it nearly impossible to get an accurate price quote before undergoing treatment. In many cases, hospitals in the United States offer different prices to patients with health insurance than the prices offered uninsured patients. Because of this, many hospitals are unwilling to provide a transparent pricing scheme. Oftentimes, insurance companies forge agreements with hospitals to charge patients a certain price within a certain “physician network,” and an entirely different price if patients choose a surgeon outside of the network. Uninsured patients often have to go into treatment without knowing what they will see on the final bill.

Overseas hospitals, including those in medical tourism destinations such as Taiwan, are much more transparent in their pricing plans. Patients are always provided with an itemized bill – which includes every single item the patient is expected to pay for, including medication, food, surgeon fees, and ward fees. The price quoted in the initial estimate is almost always the price paid after care is administered – except in cases where further treatment is required.

The hospitals in Formosa Medical Travel’s network offer all-inclusive knee and hip replacement packages, which include the price of treatment as well as accommodation and all other necessary expenditures. Patients who arrange surgery through Formosa Medical Travel will pay the exact rate they are quoted, and are provided with a fully-itemized bill.

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