Healthcare Pricing Transparency is Going to Sting
Leaders are wary of its power, however, and they should be. Employers are demanding better transparency and the ability to compare prices among a wide variety of organizations, and they're putting big money behind that desire.
Betting on getting a slice of that big opportunity, plenty of startups, as well as established health plans, are ramping up their technology and their sophistication to help patients choose wisely based on price.
But how can you prepare for and react to something that's currently not affecting you? It's not as if there's a shortage of things to worry about as healthcare reform reaches toddlerhood.
During an impromptu discussion among CFOs at a HealthLeaders Media event I hosted a couple on a different topic, the panel members worried about these services to a strong degree, despite the fact that they haven't seen much impact from them—yet.
All agreed there will be ever more pressure on the organization's bottom line in the medium-term future.
Enter the Facilitators
Castlight Health, a pure-play company that offers health information over the Internet to help people figure out their medical options, with much of the information aimed at lowering the veil on price and encouraging patients to choose lower-cost options, completed an initial public offering in March.
- Readmissions: No Quick Fix to Costly Hospital Challenge
- Ebola: Health Officials Try to Quell Front Line Fears
- House Calls Key to Pioneer ACO Success
- How Telehealth Pays Off for Providers, Patients
- Defensive Medicine Still Prevalent Despite Tort Reform
- How Top-Ranked MA Plans Earn Their Stars
- 'Overtreatment' Debate Circles Back to Lung Cancer Screening
- Reducing Readmissions Starts with Better Collaboration
- Partners HealthCare M&A Deal Under Scrutiny
- 4 Ways to Lower the Cost to Collect from Self-Pay Patients