Price Transparency: Revealing MRI Prices Triggered Competition

According to a study by WellPoint subsidiaries (AIM Specialty Health and HealthCore), consumers that chose cheaper MRIs after obtaining price information saved $220.00 for each exam in health system costs. Competition grew between hospitals due to a shift in consumer behavior. The data is as follows:

• >30 hospitals lowered MRI pricing to stay competitive in marketplace.
• MRI price increased $125 without education program.
• MRI price decreased $95 with education and price transparency.,
• MRI price decreased $175 after program was implemented.
• MRI price range from $300-$3,000.
• 30% in program group had no cost sharing.
• 15% who were part of AIM outreach went with a different provider.

Note: Data from 100,000 members (WellPoint) from 2010-2012. 61,000 members were part of an education program (AIM). Participants were compared to 44,000 members who did not have an education program.


Source: WellPoint, Inc.