Healthcare Costs in DFW Cause Major Concern for Residents
Healthcare costs are a major concern for Dallas-Fort Worth residents.
Although our metropolitan area is considered an affordable market for businesses (and is known to have a reasonable cost of living for employees), that savings doesn’t seem to carry over to the healthcare market.
In fact, DFW residents spend more on health care than residents in many other major cities across the U.S., according to a recent article published by Dallas News.
Rising Costs of Healthcare in DFW
The cost of medical services has been on the rise for the last few years.
Comparing annual per-capita medical costs across similar metropolitan areas, the article reports DFW being more expensive at $6,126 per year than the following cities:
- Austin ($4,946)
- Houston ($5,813)
- New York City ($6,056)
- Washington DC ($4,663)
- Atlanta ($4,986)
- Miami ($5,298)
- Chicago ($5,033)
Dallas residents spent nearly twice what residents of Tucson, AZ, spent in 2016.
All of these cities have reputations for being expensive places to live compared to the Dallas area.
A booming economy and mergers among major medical facilities were cited as possible contributing factors.
Information Is Key
Even with recently passed regulations that require the posting of prices at medical facilities, the amount you will actually pay is difficult to determine.
The negotiations that take place between service providers and insurance companies are often not visible to the consumer, and then there’s the often confusing calculations involving deductibles and copays.
According to Sarah Knodel, senior vice president of revenue cycle, Baylor Scott & White Health:
“It’s good to have a dialogue about price transparency, but just posting list prices falls really short. Patients have to understand their insurance benefits and have a plan for out-of-pocket costs. The more information we can provide to patients, the better. We’re trying to help them navigate a very complex ecosystem.”
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