The Healthcare Transparency Revlotuion

The Healthcare Transparency REVOLUTION CONSUMER How the Call for Greater Cost and Quality Transparency will Affect Health Insurance Plans Results of a survey responded to by over 180 executives representing over 100 health plans in the United States: Lhhh WHAT IS HEALTHCARE TRANSPARENCY? If transparency is on your radar, you're not alone. Healthcare Transparency is: Executives "A movement to empower consumers with interactive tools and information so that they can choose providers and treatment options in a more informed, convenient, and value-driven way." familiar with NO the term "Healthcare Transparency" YES 68% 32% whh BENEFITS OF TRANSPARENCY h How important is it to equip health plan members with information and tools to make informed healthcare 90% decisions? Executives say: Very important 70% 39% 31% 16% 8% 1% 4% 2% 1 3 4 6 7 Not Important Somewhat Important Very Important How will members benefit from transparency? Here's what executives say: The vast majority of executives and managers believe transparency in the health insurance industry will increase 65% Health Plan members make better/more 68% informed decisions about healthcare Health Plan costs decline as members are able to provide themselves the best value 52% Health Plan members speak favorably about the tools, leading to higher engagement 46% Tools on Health Plan website will lead to increased visits and traffic from members 38% 26% Transparency .. "can help consumers and their families make important decisions about their care." 8% Hold - Kathleen Sebelius Secretary of Health and Human Services Increase Decrease CONSUMER h WHAT TRANSPARENCY TOOLS ARE IMPORTANT? TRANSPARENCY ADOPTION MODEL" A Blueprint for the Successful Adoption of Transparency Tools Basic Tools Integrated Platform Advanced Applications Employer Portal Shopping Network • Basic Provider Search • Encounter Cost Calculator • Toll-Free Phone Concierge • Incentive Programs • Benefit Plan Design • Enhanced Provider Search • Rx & Pharmacy • Appointment Scheduling • Online Consults • Affinity & Social • Network Physician Referral Tools • Loyalty Programs • Pre-Emptive Alerts • Individualized Shopping • Recommend Insurance • Patient Reviews • Out-of-Pocket Costs • Marketing Utilization Сampaigns • Savings Alerts • Mobile Access • Treatment Cost Estimator Products • HR ROI Dashboards • 3rd-Party Offerings COST VALUE STAGE 1 STAGE 2 STAGE 3 STAGE 4 STAGE 5 With costs a primary concern for consumers, executives say cost comparison tools will be most important: "The complexity of navigating, managing, and developing tools with appropriate breadth and depth pose significant internal technical and logistical challenges." Out-of-pocket costs 112.4% Treatment cost estimators |11.6% Employee/Member incentive programs 19.9% Prescription & pharmacy info 19.5% Provider comparision 18.1% Mobile access 17.7% Enhanced provider search 17.7% Online consultations 17.1% Appointment scheduling Savings alerts - Health Insurance Plans and Transparency: An industry Benchmark by The Cicero Group 16.8% 14.8% Toll-free phone access 14.1% Patient reviews 13.8% ROI dashboards 2.4% Online community/social networks 12.0% Personalized shopping 2.0% h BEST PRACTICES FOR TRANSPARENCY ADOPTION Most plans use third-party vendors to ensure maximum value for members. Typical Departments Responsible for Transparency • Marketing • Information Technology • Customer Experience • Provider Services USE VENDOR SOLUTIONS USE BOTH IN-HOUSE RESOURCES AND VENDOR SOLUTIONS USE IN-HOUSE RESOURCES 21% 48% 31% 69% "Engaging with actual consumers in selecting measures, displaying ratings, and navigating the information . . . is 20% of health plans report that transparency is not assigned to essential." any specific department. - Health Plan executive from The Cicero Group healthcare transparency study HS HEALTHSPARQ Empowering Healthcare Shopping SOURCE: Health Insurance Plans and Transparency: An Industry Benchmark by The Cicero Group © 2013 HealthSparq, Inc. All Rights Reserved Want to learn more? HEALTH SURANCE PLANS NO TRANSPARGNCY Download the full study at www.HealthSparq.com/study