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The average cost for a knee MRI, which stands for magnetic resonance imaging, is about $770, as of 2014, according to Healthcare Bluebook. This is the price for an MRI with no contrast.
For example, the cash price of a lumbar spine (lower back) MRI at a hospital can reach more than $6,000, while the cash price of the same test at an independent radiology facility can be as low as $300 or so. For our sampling of cash or self-pay prices of lumbar spine MRIs in the San Francisco area, click here.