More Americans are actively looking for pricing information before receiving healthcare and using it to inform their decisions, according to a study.
About 16 percent of Americans who have received care in the past year looked at pricing information first, up from 11 percent in 2010, the monthly Thomson Reuters-NPR Health Poll revealed. Nearly three-quarters of those who did research said what they found impacted their choice of healthcare provider, compared to only 26 percent two years ago.
The source of that information is also changing, with the proportion who received information from their physician dropping 10 percent to about half. More are searching for pricing information online. These changes may be partially responsible for a reported decline in the accuracy of pricing information.
"It is encouraging that people are increasingly incorporating cost information into their decision-making process when determining which healthcare services they should seek and from which providers," said Raymond Fabius of Thomson Reuters. "As more pricing information becomes widely available, along with quality comparisons, and more providers and health plans share their data transparently, we will see the emergence of a healthcare system that is more competitive and ultimately more sustainable."
Knowledge of coming changes
Despite this growing interest in pricing information, Americans may be caught unprepared for approaching alterations in healthcare. Of those who will be eligible for healthcare subsidies under the Patient Protection and Affordable Care Act, 78 percent have not heard of state healthcare exchanges.
This lack of information may be more prevalent among some groups than others. With exchanges scheduled to begin operating in 2014, however, relatively little time remains to prepare for their coming. Businesses eligible to use their state's exchange to shop for coverage should also conduct any needed research as soon as possible to better understand their options.
Impact on employers
Taken together, these studies suggest that Americans are growing more aware of the gaps in their healthcare knowledge but may need help filling them. About 60 percent of respondents to the CVS Caremark survey indicated they will need help navigating the new healthcare system.
For many Americans who receive healthcare insurance as part of their employee benefits and compensation, employers may seem the logical party to provide that information. Additionally, organizations which help their workers understand the new healthcare landscape may be able to enhance wellness and productivity and reduce their own costs.
