Shoppable Services
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CMS-specified shoppable services accounted for 12% of 2017 health care spending among individuals with employer-sponsored insurance
Tags: Commercially Insured, Inpatient Spending, Out-of-Pocket, Outpatient Spending, Shoppable Services, Utilization
Read more: CMS-specified shoppable services accounted for 12% of 2017 health care spending among individuals with employer-sponsored insuranceIn response to high and growing health care spending, policymakers have proposed improving price transparency as a solution. Several such proposals rely on consumers taking action on publicly available information for shoppable services – generally, non-emergency services that a person could choose more deliberately. In 2021, hospitals will be required to display, in a consumer-friendly manner,…
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LA Times: Trying to Shop for Medical Care? Lots of Luck with That
Read more: LA Times: Trying to Shop for Medical Care? Lots of Luck with ThatHCCI research on shoppable services was mentioned in an article written by the LA Times. From the article: “By one estimate by the Health Care Cost Institute, just 7% of total healthcare spending for Americans with job-based coverage was on medical services that could be considered ‘shoppable’ because the service required an out-of-pocket payment and the procedure could…
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Business Wire: Vitals Reduced Medical Spending for Employers by $56M. Three people every hour shop and save on their health care
Read more: Business Wire: Vitals Reduced Medical Spending for Employers by $56M. Three people every hour shop and save on their health careVitals today released its 2018 Book of Business report. The annual summary reports the metrics associated with shopping activity and savings achieved by employers and employees using Vitals SmartShopper. SmartShopper is a high-tech, high-touch health care program that allows consumers to shop for and choose better-value medical care. Over the past four years, SmartShopper has…
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KHN: Need A Medical Procedure? Pick The Right Provider And Get Cash Back
Read more: KHN: Need A Medical Procedure? Pick The Right Provider And Get Cash BackLaurie Cook went shopping recently for a mammogram near her home in New Hampshire. Using an online tool provided through her insurer, she plugged in her ZIP code. Up popped facilities in her network, each with an incentive amount she would be paid if she chose it. Paid? To get a test? It’s part of…
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Crain’s Chicago Business: This fast-growing doctors group is betting it all on hips and knees
Read more: Crain’s Chicago Business: This fast-growing doctors group is betting it all on hips and kneesBaby boomers are living longer, getting their aching hips and knees replaced as they age. That puts Illinois Bone & Joint Institute in the sweet spot of medicine. Hip and knee replacements are among the most common surgeries in the U.S.—and they’re pricey. Everything involved in replacing one, from surgery to the weeks of rehab…
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Health Affairs: Reference Pricing Changes the ‘Choice Architecture’ of Health Care for Consumers
Read more: Health Affairs: Reference Pricing Changes the ‘Choice Architecture’ of Health Care for ConsumersABSTRACT: Reference pricing in health insurance creates incentives for patients to select for nonemergency services providers that charge relatively low prices and still offer high quality of care. It changes the “choice architecture” by offering standard coverage if the patient chooses cost-effective providers but requires considerable consumer cost sharing if more expensive alternatives are selected….
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NPR: That Surgery Might Cost You A Lot Less In Another Town
Read more: NPR: That Surgery Might Cost You A Lot Less In Another TownBy: Alison Kodjak Need knee replacement surgery? It may be worthwhile to head for Tucson. That’s because the average price for a knee replacement in the Arizona city is $21,976, about $38,000 less than it would in Sacramento, Calif. That’s according to a report issued Wednesday by the Health Care Cost Institute. The report, called…
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Forbes: Don’t Be Fooled – Patients Can Shop For Healthcare
Read more: Forbes: Don’t Be Fooled – Patients Can Shop For HealthcareBy: Yevgeniy Feyman Price and quality transparency in health care has often been seen as the missing link for extracting more value out of our health care system. With the appropriate financial incentives, along with easily accessible cost estimators and information on physician and hospital quality, patients could flock to the lowest-cost, highest-quality providers. But…
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KHN: Consumer Choice Doesn’t Significantly Lower Healthcare Spending – Study
Read more: KHN: Consumer Choice Doesn’t Significantly Lower Healthcare Spending – StudyA new study throws cold water on the popular idea that consumers can save themselves and the health care system loads of money if they become savvier shoppers for health care services. The analysis by the Health Care Cost Institute focused on what consumers paid out of pocket, where comparison shopping can result in lower…
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Spending on Shoppable Services in Health Care
Read more: Spending on Shoppable Services in Health CareThis issue brief examines health care spending on shoppable services in 2011. Contrary to expectations, giving consumers prices so they can shop for health care services may only have a modest effect on reducing health spending. Key Findings: In 2011, about 43% of the $524.2 billion spent on health care services for commercially insured people…