ARTICLE DETAIL

Healthcare Transparency - The Problem

Posted by Health Entrepreneur 03/01/2016

As there is increased exposure to healthcare costs there is even greater and meaningfull need as well as transparent price information. This would necessitate all the stakeholders commit to enable access to the right information about price, quality as well as safety to patients to help them make informed healthcare decisions. This article will bring into focus these issues.

 
To learn more about “Healthcare Transparency - The Solution”, click here!

 
With increased exposure to healthcare costs there is even greater and more urgent need for meaningful as well as transparent price information. This would necessitate that all stakeholders commit to enable access to the right information about price, quality as well as safety to patients to help them make informed healthcare decisions. This article will bring into focus these issues, while presenting other information in similar context. 
 

What is healthcare transparency and what defines healthcare transparency? 

Transparency and better public information on quality and cost are needed for a few important reasons. 

1. Helping providers improve their quality by benchmark standards created which tests their performance against that of others. 

2. To help patients make informed choices about their health care and 

3. To ensure and encourage public sector and private insurers to reward efficiency and quality. 

The information asymmetry that is the experience of many consumers, payers and providers is currently seen to shield the critical shareholders and stakeholders from information that is much needed by them to make the necessary decisions regarding what works best for them. 

Transparency is seen as a tool to help level the playing field. The potential for transparency to address a variety of areas of the healthcare delivery system – which includes cost, quality and outcomes – which means highlighting vital information to consumers, payers, providers and stimulating savings and quality improvements. 

What are the developments so far?
 
With great efforts from the National Committee on Quality Assurance (NCQA) which has focussed on health plan’s transparency and Aetna’s Excel Initiative on transparency of clinical quality and cost efficiency, there has been a greater attempt to bridge the gaps in information asymmetry. Transparency of prices, costs, effectiveness and quality of medical services is seen is as a key tool to improve performance and outcomes while lowering costs.

 

Please login to view full post.
 
 

Archives

Similar Articles

MedTech startup, Jiseki Health

MedTech startup, Jiseki Health, is a concierge service that helps its clients ta...

Read More

3 C’s — Cancer, Cure and COVID — The Aftermath

What happens to cancer care post-COVID? The New Normal will be NOTHING like — th...

Read More
Advancement in Patient-Focused Oncology Benefit Management

Oncology Analytics Raises $21 Million Series B Financing Led by Oak HC/FT

Read More
Funding Resources for Medical Device Startups

This article is about technology startup accelerators focused on medical device ...

Read More
Harvard Business School - Advanced Management Program - My Experience

A moment arrives in everyone's life when they feel a need to 're-explore' themse...

Read More

SUBSCRIBE TO NEWSLETTER

Subscribe here for free updates/newsletter

Inspirational Stories

  • Interview with Shanthu Kere, CEO, Palisha

    This health entrepreneur shares his motivational story that started with a "vision" to bring around a change in Oncology care-delivery, culminating in successful acquisition of his company. The journey, however, was fraught with hurdles and uncertainties that he overcame by staying true to his Mission.

    View more
  • Interview with Dr. Nilesh Nangrani

    Learn from an inspiring journey of an accomplished physician entrepreneur. Here he shares his beginnings, his life and his Vision to provide affordable and quality care to everyone, irrespective for their location.

    View more