Monday Medical: Adding value with lower MRI costs
When thoughts of shopping cross one’s mind, health care is probably not at the top of the list. Yet, for many individuals, especially those with high-deductible insurance plans, shopping for medical procedures has become common practice.
Yampa Valley Medical Center was excited to announce last week price reductions on all MRI services, effective Aug. 1. In addition, YVMC was excited to publicly share price ranges of all MRI procedures on its website, empowering patients to take a first glance at the new prices. The new base pricing includes both the procedure fee for the MRI, as well as the professional fee for reading the MRI, which, at times, can be an added expense to the patient. The prices on the YVMC website represent a base rate, before any adjustments for insurance.
The actual out-of-pocket cost to patients will likely be less. Specifications for the MRI from the physician may also affect the cost, and at times, additional procedures may also be ordered, which carry their own fees.
Due to these variations, patients are encouraged to get an accurate quote for their procedure by contacting YVMC at 970-871-2525 or visiting yvmc.org/mriI to request a quote and receive a call back.
The price reductions and price transparency are part of YVMC’s strategy to improve the health of individuals, the health of the community and the value of healthcare. This Triple Aim framework was developed by the Institute of Health Improvement and adopted by YVMC in 2016.
“We are committed to achieving the Triple Aim and are pleased we can return savings to our community,” said Frank May, chief executive officer at YVMC. “This pricing change is the first step on our path to achieving one of the three aspects of the Triple Aim — improving the value of healthcare.”
By starting with price reductions to MRI services, a significant number of community members stand to benefit.
MRI, or magnetic resonance imaging, is a technique that uses a magnetic field and radio waves to create detailed images of organs and tissues inside the body. The procedure gives physicians a noninvasive way to examine organs, tissues and the skeletal system. The high-resolution images that result from an MRI can help diagnose a variety of problems.
“Our patients are at the forefront of every decision we make,” Bryan Roach, chief financial officer at YVMC, said. “They can rest assured that the high quality and safety standards of MRI procedures at YVMC will continue after the price reductions.”
The MRI price reductions come after a year in which YVMC did not raise prices to any services. An added benefit of these price reductions is that they will allow more patients to receive care without having to leave the Yampa Valley.
As YVMC works to achieve the Triple Aim across the coming years, community members can expect to benefit from health care that costs less, is more accessible and is at a high level of quality.
To learn more about MRI services at YVMC or to request a quote, visit http://www.yvmc.org/mri or call 970-871-2525.
Susan Cunningham writes for Yampa Valley Medical Center. She can be reached at email@example.com.
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