Dive Brief:
- A new study by the PricewaterhouseCoopers Health Research Institute says that as healthcare consumers continue to pay more out of pocket due to higher deductibles, their expectations for billing are not being met by hospitals or insurance companies.
- At least 21% of the 1,000 respondents said they were displeased with aspects of their hospital payment processes, and 11% to 20% reported dissatisfaction with their insurance payment processes. However, less than 10% reported dissatisfaction regarding pharmacy payments.
- Those who were in fair or poor health reported the lowest satisfaction. At the same time, however, affluent respondents showed more dissatisfaction with hospital billing than the general population.
Dive Insight:
The issue of antiquated payment systems is coming to the forefront due to the trend toward higher deductibles, the data suggests. According to the Kaiser Family Foundation, 41% of people who have a commercial health insurance plan now have a deductible of at least $1,000—compared to just 10% in 2006.
So what's the takeaway for the healthcare industry?
According to Ceci Connolly, managing director of the Health Research Institute, healthcare companies need to provide consumer-friendly digital payment platforms, particularly to meet the expectations of millennials. She says they also need to focus on making claims understandable and transparent.
"When you're spending your own money," Connolly told the Chicago Tribune, "you want to know what you're paying up front."