Tag Archives: consumerism in healthcare

Are People Willing to Pay Extra for Quality?

There are several external rating agencies such as CMS STARS, Healthgrades, Leapfrog, and US News and World Report that inform the public concerning the quality of healthcare facilities and physicians. Unfortunately, many of these rating agencies rarely measure the same metrics, so it can be extremely confusing both for the provider and the consumer to decipher. And being… Read More »

Promoting Transparency for our Consumers

With the first month of the New Year nearly behind us, and new transparency regulations becoming law, Healthcare faces increasing challenges when it comes to consumerism. Using such a framework is appropriate as the persons to whom we provide services of our “goods” do “consume” them; however, compared to consumers of other types of products it is not… Read More »

Understanding and Instilling Trust in Our Patients

Periodically, there are discussions regarding the critical component of trust in healthcare. Currently, the present pandemic is a prime example of the issue. Some, we observe, inherently trust science; others prefer the approach, I need to distrust you until you prove to me you are trustworthy. A third category proclaims I trust you; however, I must verify the… Read More »

If We Invest in Social Needs, There Can Be a Great Return

Recently, there is a tremendous amount of focus on the value of social interventions and healthcare costs. To be of optimal help to the greater society, it is important for us to thoroughly understand how to investigate the value of such interventions. In the journal, Health Affairs, a recent study by Kangovi et al. investigates the return on… Read More »

Is Private Equity a Friend or Foe When Purchasing A Physician Practice?

The healthcare market continues to consolidate, which is causing an uptick in Private Equity (PE) investment, particularly in dermatology and ophthalmology. PE firms have a tremendous amount of unspent capital and are seeking diversification of their portfolios. Furthermore, their model is to purchase a large physician practice and then add on medium and smaller groups, usually within the… Read More »

When it Comes to Improving Healthcare, Consumers are Accountable Too!

Overall, we focus a considerable amount of time and energy on physician accountability for delivering value to those we serve. However, with consistently increasing costs to the consumer, there is less conversation concerning their responsibility. Currently, there is a societal debate asking what exactly, are the duties of individuals involving their own health and well-being. Undeniably, patients’ behavior… Read More »

Will Price Transparency in Healthcare Make Things Better?

United States purchasers of healthcare pay higher prices for a unit of service relative to other countries. In fact, these prices are primarily opaque, and the consumer rarely knows what it will owe for payment before they make a purchase. Market-based economics argue that price transparency of products leads to greater competition, thus leading to lower costs over… Read More »

Considering Supply Optimization in Healthcare is Important

What is supply optimization and why is it important to healthcare? If we are to consider supply optimization as the application of processes and tools to ensure the optimal use of said supply, in terms of healthcare, this means offering our patients the most optimal care we can in the most affordable and accessible way. We continue to… Read More »

Self-regulation Should Be a Part of Professionalism

A profession is defined as an occupation founded upon specialized educational training, the purpose of which is to supply disinterested, objective counsel and service to others for direct and definite compensation. The two key components of this very “matter of fact” definition are specialized educational training and offering a service to others for payment. Unquestionably, those that provide… Read More »

Why are Private Insurers Paying a Bigger Portion of Healthcare Costs than Medicare?

There is an ever-widening gap between payments made by private health insurers and those made by the federal government. Between 1996 and 2001, payments made by private insurers were 10% greater than Medicare. By 2012, this difference increased to 75%, meaning Private Insurers are paying the majority of healthcare costs over programs like Medicare and Medicaid. We must… Read More »