An affiliate of Know the Costs® started developing outpatient imaging facilities in the mid-1990s. These sites were multi-modality, i.e. they incorporated a range of equipment and services: MRI, CT, X-ray, ultrasound, bone density, and used radiologists who also worked for the local hospitals.
Thousands of MDs, including hospital-employed MDs, referred patients to our affiliate’s facilities because they had hospital-equivalent quality but their prices (insurance rates) were a fraction of what the hospitals charged.
Over time, we realized the hospitals were getting substantial price increases from the big insurance carriers because the carriers had to have hospitals in their network. Patients (members) didn’t realize that the hospitals’ insurance rates permitted them to charge 300%+, or even more, for the same exams our sites performed!
In recent years, higher insurance deductibles have placed a greater financial burden on members. Our response to this trend was “let’s make lemonade”; consequently, we developed proprietary software to reduce costs for members of self-insured companies and municipalities.
We’ve been doing this for several years now and have thousands of very satisfied members who pay $0 for MRIs, CTs, X-rays, ultrasounds, and PET exams. Their employers are happy that with the analytical insight and ongoing administrative oversight of Know the Costs® they can offer this important new member benefit.
Know The Costs® has embraced a mission of healthcare cost reduction for self-insured companies and members. Healthcare costs are escalating rapidly and significant cost sectors like outpatient radiology require continuous oversight. Over 20 years of radiology experience has given Know The Costs® the clinical and financial insight to offer a) substantial cost reduction + b) cost containment services.
You're not alone in wanting to save money on healthcare expenses. See what people have to say about the benefit of a partnership with Know The Costs®.
Thank you for finding a lower cost facility. This benefit will save me over $3500!
I’m so glad I have this benefit. You saved me $600 on my ultrasound.
Your service has been such a blessing to me and thank you for doing what you said you would do.
My doctor scheduled me for an MRI at a hospital. I knew it would be expensive but I didn’t realize I had a choice. Then I got a text and email from Know the Costs® stating I could save almost $900 if I went to one of their places. That was welcome news! I called the number and Know the Costs® re-scheduled me. I saved a lot of money and really learned something about hospital prices!
Our HR department told us they had a new program to help us save on medical costs but I really didn’t understand what they were talking about. My daughter was supposed to have a CT scan at a hospital. Sort of out of the blue, I got a text and maybe an email too that we could save money by going to a place run by Know the Costs®. I saved about $1,100! Needless to say, my husband was happy about that!
We’ve even had X-ray patients who’ve saved over $1,000 instead of going to a local hospital! They were amazed (and very happy) when they realized how much they saved!