Giving consumers the ability to shop around for the best healthcare deal may not help reduce overall healthcare costs, thanks to the relatively small amount consumers contribute, according to a study from the Health Care Cost Institute.
The study examined 2011 claims data for shoppable procedures from three large private insurers.
For the study, shoppable medical services were defined as non-emergency services that could be scheduled in advance, such as hip and knee replacements, colonoscopies, flu shots and blood tests.
The study found relative to overall healthcare spending, total consumer spending on shoppable services was fairly modest. "Because these gains are pretty modest, designing systems around expecting consumers to become uber shoppers might not be the best way [to control costs]," Amanda Frost, a co-author of the study, told Kaiser Health News.
Below are three takeaways.
1. In 2011, about 43 percent of the $534.2 billion spent on healthcare services by commercially insured people was considered shoppable.
2. Consumer out-of-pocket spending made up about 15 percent of total healthcare spending in 2011.
3. The study found less than 7 percent, or $37.7 billion, of total healthcare spending in 2011 was paid by consumers for shoppable services.
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