US hospitals must compete with retail clinics, standalone surgical centers, and walk-up medical facilities for customers, so their prices must be more transparent, accessible, and defensible.
US hospitals must compete with retail clinics, standalone surgical centers, and walk-up medical facilities for customers, so their prices must be more transparent, accessible, and defensible. In other words, health systems have to think more like retailers as they adjust their approaches to attracting and retaining consumers.
With Americans facing higher deductibles and other cost-sharing measures, consumers are shopping around with a more price-conscious approach, taking their business away from health systems and gravitating to standalone operations with advertised prices and services, according to an October 2016 PwC Health Research Institute report.
The report is based on interviews conducted and data shared during presentations at the HFMA Annual National Institute conference in June 2016, as well as consumer and industry surveys conducted by PwC and Health Research Institute. The report examined pricing across 3 states (New Hampshire, Oregon, and Colorado) for a number of common medical procedures, finding wide differences in charges and pricing.
Interviews suggest that healthcare executives surveyed are taking action to avoid losing volume for their services. Most said they have adopted strategies common to the retail industry, such as price quotes, simplified billing, consumer outreach, and money-back guarantee as ways to gain and maintain volume. Consumers who do shop around are finding that prices vary from medical center to medical center. With many patients now having high-deductible health plans, it is imperative that consumers know in advance of a procedure how much they will owe. Some hospitals are using online tools that allow individuals to receive estimates for different procedures.
The report sums up its findings as follows:
Standard Criteria for Loss of Ambulation Needed in DMD
April 19th 2024A recent study suggests the differences between ambulation definitions for patients with Duchenne muscular dystrophy (DMD) can impact the identification of ambulant vs nonambulant individuals, and standard criteria across settings are needed.
Read More
Overcoming Employment Barriers for Lasting Social Impact: Freedom House 2.0 and Pathways to Work
April 16th 2024To help celebrate and recognize National Minority Health Month, we are bringing you a special month-long podcast series with our Strategic Alliance Partner, UPMC Health Plan. Welcome to our second episode, in which we learn all about Freedom House 2.0 and the Pathways to Work program.
Listen
Early Involvement Critical in Treating Immunotherapy-Induced Overlap Syndrome
April 19th 2024A series of case studies reveals the importance of early diagnosis and involvement of special teams of clinicians when dealing with potential cases of overlap syndrome, which encompasses myocarditis, myasthenia gravis, and immune checkpoint inhibitor–related myositis.
Read More
Making Giant Strides in Maternity Health Through Baby Steps
April 9th 2024To help celebrate and recognize National Minority Health Month, we are kicking off a special month-long podcast series with our strategic alliance partner, UPMC Health Plan. Welcome to our first episode, which is all about the Baby Steps Maternity Program and its mission to support women throughout every step of their pregnancy journey.
Listen