Getting from Price Transparency to Healthcare Consumerism
Due to higher out of pocket costs and the Federal Government through transparency requirements, patients are demanding the ability to choose the healthcare based on price and quality that is best for the patient These regulatory and consumer based levers will alter the way that healthcare interacts with patients in terms of pricing and purchasing behavior.
As a first step in going from federally mandated transparency to patient-demanded consumer behavior, health systems need to meet the federal price transparency rule, and strategically select their 230 discretionary procedures, and evaluate how their pricing strategies will affect consumer decision-making. Providers then need to bridge the gap to personalizing price experience. This means moving toward what is competitive and affordable. It involves developing value-based pricing to align with market demand and consumer purchasing capacity. Last, providers need to translate price transparency and personalized price into a seamless digital and user-friendly shopping experience.
This series will cover the federal price transparency rule and explore the steps it takes to convert pricing transparency into a strategic asset and competitive advantage for your hospital.
Highlights of the series include:
- Addressing the biggest questions about the federal price transparency rule
- Highlighting best practices in selecting the additional shoppable services
- Key price considerations and managing payer/ patient relations
- Intelligent price design: from static to dynamic pricing
- Developing and adaptive financial assistance program
- Tailored financing and payment plan designs
- Deploying a digital commerce strategy
Join Solvent Networks (SCHA), Georgia Hospital Health Services (GHA) and our endorsed partner ARxChange for this two-part webinar series.
Part 1 – Tuesday, October 27th at 1:00 PM
Part 2 – Tuesday, November 10th at 10:00 AM