The consumers view of healthcare price transparency and how healthcare policy will influence their vote
Today we are happy to announce survey results assessing consumer views on the health care system and health care policy leading up to the 2020 presidential election. The findings reveal health care policy will influence 79% of U.S. adults’ votes in the election, with 50% of those consumers reporting health policy will most influence or heavily influence their votes compared to other policy issues. Additionally, more than one-third (34%) of adults surveyed report they would like to see both presidential candidates prioritize lowering care costs leading up to the election.
For years, health care costs have been on the rise and the recent financial impact of COVID-19 has made cost concerns even more prominent. With consumers looking to save money, price transparency has received renewed attention through the current tri-agency’s regulations for hospitals and health plans, and the new survey found that nearly half (46%) of respondents state COVID-19 has made health care price transparency more important to them than before. However, with one-third (33%) of respondents saying the current health care system is too complex and not easy to navigate, it is clear health care information needs to be provided in an easier, more consumer-friendly way to help patients view their options and save money. Sixty-eight percent of those surveyed said they would research costs of health care procedures prior to going for care if there was an easy way to view the total medical cost for the procedure or their personal out-of-pocket costs.
“There have been many moving pieces in health care this year, including COVID-19 which has pushed health care policy and price transparency to the forefront of Americans’ minds,” said Kyle Raffaniello, Chief Executive Officer of Sapphire Digital. “As the industry moves to increase price transparency, we must educate consumers about the easy-to-use tools available through their health plans to shop for and select health care that meets their needs both from a cost and quality perspective.”
Sapphire Digital’s new survey also revealed that more than half (55%) of respondents will make changes to how they select care moving forward, compared to just 47% from a previous survey in April. Other findings from the new data include that 41% of U.S. adults report the government is most responsible for lowering care costs and one third (33%) of respondents said more information on their total health financial position and a clear explanation of their benefits would make it easier to save on health care. Additionally, when asked what consumers hope will most change as a result of the election, 62% of respondents report they hope their health plan will help guide them to the best care options and that there will be higher quality care options available.
Sapphire Digital empowers individuals to be more informed health care consumers through its innovative solutions, like SmartShopper and CareSelect. SmartShopper helps Americans confidently shop for affordable, quality care and provides a cash reward for selecting cost-effective care. Additionally, CareSelect makes it easy for members to search for care and provides personal support via phone, chat and text to help consumers navigate the most appropriate level and location of care quickly and easily.
The online survey, which was completed by 1,000 U.S. adults, was commissioned by Sapphire Digital and fielded by Dynata, a global market research firm, in September 2020.
Originally published on BusinessWire, October 14, 2020.