How to Save Money on an MRI

Doctors can tell a lot about your health just by examining you. But sometimes, they need a little “inside information.” That’s where tools that can provide a look at what’s beneath your skin —such as x-rays, computed tomography (CT) scans, and magnetic resonance imaging (MRI )— come in.

An x-ray takes pictures of your bones, but an MRI can help your doctor see your organs, muscles, and other soft tissues. It’s a very useful diagnostic tool. In fact, every year 36 million are performed in the United States.

So how does it work? Basically, an MRI uses magnets to make the molecules inside your body move in certain ways. Then, radio waves track those molecules’ locations and movements. That produces a detailed digital image that your doctors can look at to assess your health.

It’s extremely useful technology, which, not surprisingly, comes at a cost — which your insurance may or may not fully cover. That’s why, if your doctor refers you for an MRI, it’s worth doing some price comparisons.

“Most of us have never been encouraged to shop around for medical services,” says AnnMarie McIlwain, CEO of Patient Advocators in New York City. “But if you don’t have insurance, or if you have a plan with high deductibles, the entire cost of your MRI might be coming right out of your pocket. Or you might have a plan where you pay 20% of the cost and the insurance picks up the rest.” Unfortunately, even 20% could add up to a pretty hefty figure for this sophisticated scan.

That’s a strong incentive to find the best price available — which might not be at a hospital. Take this example: In Atlanta, one local hospital charges $4,787 for an MRI of the hip. But you can get the same scan at a freestanding imaging center less than 20 miles away for $499, a difference of almost $4,300.

“If you go to an imaging center instead, they’re almost always much cheaper,” says Touré McCluskey, cofounder and chief product officer at REDU Health. “Alternative sites can often offer you a better deal — and depending on your insurance plan, you may even be able to avoid a copayment,” he says.

But does shopping for a lower price mean sacrificing high-quality healthcare? No, not at all, says McCluskey. “There’s no real link between price and quality of care,” he says. “Imaging tests like MRIs can be performed anywhere. They’re considered a commodity. Consider yourself a free agent. You can take your doctor’s referral and seek out a provider that makes the most sense for you.”

So if comparing prices for an MRI sounds like a smart way to potentially save money on your medical bills, you’re right. And even better, it’s not hard to do. Follow these steps for serious savings.

1. Find out what kind of MRI you’re getting

There are multiple types of MRIs, and prices differ widely. “Make sure you get not just the name of the procedure, but the CPT code as well — that’s healthcare-speak for the numerical code that identifies the specific test your doctor has ordered,” McCluskey says. “That way, if you’re price shopping, you’ll be able to compare apples to apples.”

So, for example, your doctor may tell you that you need a hip MRI. That sounds pretty specific, right? But it might be shorthand for, say, “MRI of pelvis/hip with no contrast,” which has a CPT code of 72195. Ask your doctor to tell you the numerical code for the procedure they’re recommending.

2. Get your doctor’s input on where to get your MRI

Don’t be afraid to tell your doctor why you’re asking for the CPT code: It’s because you’re concerned about your potential out-of-pocket costs for such an expensive test. Tell your doctor up front that you’re planning to talk to your insurance company about coverage and copays and that you’re exploring your options. And ask if your MRI can be performed at a facility that’s not connected to a hospital.

3. Call your insurance company to check coverage for your scan

Once you have the CPT code and your doctor has weighed in, it’s time to find out exactly what your financial responsibility will be. Ask your insurance company whether your plan covers your MRI if you have it done at an independent facility rather than a hospital. If you’re covered, find out which facilities are in your plan’s network.

4. Research independent facilities that perform MRIs

Now that you’re armed with info from your insurance company, you can start comparing prices. A good place to start: Websites like Turquoise Health, where you can plug in your ZIP code and CPT code and get a list of facilities in your area and what they charge. 

Additional sources

MRI statistics: Statistica (2021). “Number of MRI scans in the U.S. in 2016 and 2017, by facility type.”
Access to lower-priced scans: Journal of Health Economics (2021). “Physician agency, consumerism, and the consumption of lower-limb MRI scans”