Healthcare Transparency: How do we make Healthcare Shoppable?

TRANSPARENCY IN HEALTACARE HOW DO WE MAKE HEALTHCARE SHOPPABLE? THE DEMAND $300 BILLION amount spent in the U.S. every year on avoidable health care costs $9,699 TO $29,076 range in total cost for childbirth care at New York City hospitals Employers feel pressure to cut costs, but still provide high-quality care. Employees take on some of the burden with consumer-driven health plans. 97% of CFOS say employers need more info about healthcare quality 96% of CFOS say employers need more info about healthcare pricing 85% of employers are considering or have already changed health plan options to increase employee cost sharing 18% of employers only provide a high-deductible health plan to their employees ONLY 5 STATES PASS THE PRICE TRANSPARENCY TEST I pass I fail Health Care Incentives Improvement Institute (HCI) State Report Card on Price Transparency Laws, 2014 24 COST OF CARE TRANSPARENCY HELPS EVERYONE EMPLOYERS Control medical costs, while improving care for employees Employees are more engaged EMPLOYEES Information on price and quality helps employees budget and save money Helps consumers decide whether to pursue certain elective procedures Empowers employees to get high-quality and cost-efficient care PROVIDERS High-quality providers get the recognition they deserve THE PATH TO A MORE TRANSPARENT WORLD EMPLOYERS AND CONSUMERS NEED MORE INFORMATION TO MAKE INFORMED DECISIONS ABOUT CARE. TOOLS FOR TRANSPARENCY Q UnitedHealthcare Consumers using UnitedHealthcare's online cost estimator tool were more likely to choose a high-quality health- care provider and cut medical costs. 8 castlight People who used Castlight Health's pricing platform to search for services reduced lab test costs by 14% and imaging costs by 13%. JAN 2015 Blue Cross Blue Shield of North Carolina reveals online pricing tool with pricing available for about 80% of elective, non-emergency procedures OTHER CONTENDERS YOU SHOULD KNOW ABOUT Health in Reach GoodR and Healthcare BlueBook HEALTHSPARQ Lists the "fair price" for routine tests and exams price transparency for medication online healthcare shopping Sources: http://www.castlighthealth.com/category/news-and-trends/ http://www.unitedhealthgroup.com/Newsroom/Articles/Feed/Unit- edHealthcare/2014/0916StudyMyHealthcareCostEstimator.aspx http://www.pwc.com/us/en/health-industries/behind-the-numbers/ http://www.hci3.org/sites/default/files/files/Report_Price TransLaws_2014.pdf http://www.castlighthealth.com/resources/healthcare-transparency/ http://www.unitedhealthgroup.com/Newsroom/Articles/Feed/Unit- edHealthcare/2014/0916StudyMyHealthcareCostEstimator.aspx http://jama.jamanetwork.com/article.aspx?articleid%3D1917438 http://www.forbes.com/sites/danmun- ro/2015/01/15/could-this-pricing-tool-for-consumers-disrupt-healthcare/ http://mobihealthnews.com/29400/8-companies-working-on-price-transparency/3/ Images are from: http://www.freepik.com/ Brought to you by: eVisit TM ><<