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Instant Insights / Health Care Cost Transparency, Surprise Billing, and the Employee Benefits Industry

Typically, patients, and their employers, don't know the cost of health care or are given inaccurate estimates. Then come the surprise medical bills and costly overruns of employers' benefits budgets. Here's a look at the health care cost transparency problem and how people are trying to solve it.

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Handshake In so-called baseball-style arbitration, each side submits a price, and an arbiter chooses one. Both sides are bound by the decision. (Photo: Shutterstock)

In most markets, when a buyer and a seller can’t settle on a price, they walk away. Medicine is different.

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