Employers Can Revolutionize American Healthcare and Accelerate Economic Growth by Embracing Price Transparency
By Arthur B. Laffer, Larry Van Horn, Cynthia A. Fisher
This article appeared in the Summer 2022 issue of The Independent Review.
Independent of federal health policy, employers can immediately begin reducing their healthcare costs by using their market clout to pursue price-transparent contracts with providers. Many employers have already begun doing this and their actions serve as a roadmap for others. Addressing pervasive waste through price transparency and competition can save nearly $1 trillion annually that can, instead, benefit employees in the form of higher wages and earnings.