Bringing context to cost for patients

More than ever before, health systems and large providers are bearing the financial risk. In addition, the patient has more responsibility for the healthcare dollar. Right to shop legislation is a major driver in driving consumer behavior.

The COVID-19 pandemic is altering the market landscape with anticipated pent-up demand for services, more cost-conscious consumers, and users struggling to navigate the healthcare system.

Additionally, in this age of consumerism, patients want a connected customer journey that enables the most efficient path to care. It is critical for hospitals and health systems to understand patient needs and wants. Knowing the holistic cost of care of a specific procedure is meaningless because the patient will not pay that amount. Part of your patient engagement process should be educating your current and future patients on what’s meaningful to them. And that is what they are specifically going to pay out-of-pocket for care at your locations.

The challenge and the opportunity

  • There is a need to drive a cost that is competitive while maintaining quality standards.
  • Facilities need to be focused on continually adding and enhancing new capabilities and integrating third party solutions to improve patient experience and outcomes.
  • Integration with strategic partners is of added importance.
  • The patient experience becomes substantially more important, and with it—a requirement for more evolved user testing and research.
  • The ability to accurately reflect costs for procedures is taking greater prominence.
  • A commitment to identifying macro industry trends as well as regional requirements is needed to assure that the transparency offering meets ever-changing needs.
  • Tightening the patient experience and connection with payer costs to ensure the customer is not confused about costs presented between payer and provider.

Addressing these challenges requires teams with a wide range of expertise in UX design, testing strategies, data ingestion and management to enable patients to appreciate the financial impact and value of intelligent healthcare choices. That requires an infrastructure that is both secure and scalable.

SmartShopper® for Hospitals & Health Systems

With nearly 15 years immersed in the complexities of cost and data, and delivering transparency answers that show costs and member liability, our tools are a perfect starting point for health systems and hospitals looking to deliver consumer-friendly pricing on shoppable procedures. Our SmartShopper® platform can help hospitals and health systems:

  1. Help patients get the right care while helping them budget for the cost.
  2. Create a destination that makes it easier for passive patients to become active in making procedure choices based on cost and quality.
  3. Engage existing patients by promoting services, providers, and facilities in multichannel tools that connect directly to the details they seek.

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