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Oscar Health introduces tool letting patients compare costs between ASCs, hospitals

New York City-based insurance company Oscar Health introduced a price transparency tool that allows members to compare specific expenses for procedures at ASCs, hospitals and other settings.

The company said Jan. 20 that its Cost Estimator Tool generates real-time cost estimates that factor in a patient's plan and deductible status. Oscar Health said the tool predicts all claims that typically would be submitted after seeing a specific provider for a procedure, evaluates those claims and offers a personalized price estimate.

The tool factors in differences in cost connected to particular settings, including ASCs, hospitals, primary care and specialist offices, Oscar Health said. Typically, insurance companies' cost-estimating tools generate average prices based on predefined service bundles and historical claims, which can be imprecise and outdated.

The company said its cost estimator is available on mobile devices, allowing estimates at the point of care, and that it has been translated into Spanish.

The tool's introduction follows new patient protections implemented under the No Surprises Act, which aims at ending surprise medical billing for individuals.

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