Surprisingly, most Americans don’t think so.
A recent study found that most of the population doesn’t believe that the price of healthcare services relates to the quality of the healthcare they receive.
We can help your practice stay on top of the latest healthcare news, rules, regulations and trends. Subscribe to stay current and up to date on important matters that will impact your practice. (To subscribe to our blog Click Here).
More people believe specifically, that high price and high quality were not related in regards to healthcare. There were however, more people inclined to believe that lower prices are linked to lower quality care.
So should your practice provide price information to patients?
Not necessarily, unless you emphasize why your practice is different and has better quality of care.
The study found that patients like to understand the difference in cost and have an explanation of the quality.
Patients will not choose the higher-priced providers with the assumption that care is better, however they may avoid the lowest priced providers on the belief that the quality of care is low.
Of course, their decisions also factor in outside conditions such as insurance coverage and referrals.
Only a minority of patients believe that there is a correlation between cost and quality, while 58 – 71% of respondents don’t think price and care are linked.
Does your practice advertise costs and quality? Let us know by commenting below!
In our next blog post, we will keep you informed of related issues. To get this important information delivered directly to your mail box, Click here to Subscribe
Do you need help staying current and compliant with the latest laws, rules and regulations? We can help. To contact us about your new government rules and regulations, your practice’s risk assessment, or about your other legal needs: CLICK HERE.
P.S. If you or your patients are interested in consumer healthcare issues, check out myhealthspin.com.