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 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 – What are they specifically going to pay out-of-pocket for care at your locations?