What does the term "price transparency" refer to in healthcare?

The term "price transparency" in healthcare primarily refers to the availability of readily accessible information about the prices of medical services and procedures. This concept aims to empower patients by providing them with the necessary information to make informed decisions regarding their healthcare options. When prices for various services are transparent, patients can compare costs among different providers, understand their financial responsibilities, and potentially seek out more affordable treatment options.

Having access to this information fosters competition among healthcare providers, leading to more cost-effective care while also enhancing the patient's ability to plan for out-of-pocket expenses. Price transparency can also drive improvements in the quality of care as providers may be incentivized to offer better services at lower prices to attract patients.

While the other options mention related concepts, they do not fully capture the essence of "price transparency." For instance, the availability of providers' pricing history does not directly imply that current prices are accessible to patients. Similarly, while patients receiving bills before treatment or policy changes in healthcare pricing may influence overall cost awareness, they are not the core meaning of price transparency itself.