American consumers are taking on more responsibility for the cost of their healthcare as their employers look to contain costs through benefit designs with higher coinsurance and deductibles.
Additionally, the Patient Protection and Affordable Care Act individual health insurance exchanges have opened the door for people to become more engaged in shopping for their own coverage, comparing various available options. In order to thrive in a market where consumers are more involved in the purchase of health insurance coverage and care delivery services, hospitals should employ the following five strategies, according to an American Hospital Association TrendWatch report.
1. Make price and quality information available to consumers. Hospitals should ensure their comparative quality scores and meaningful price information are accessible, according to the AHA.
2. Take part in the patient health plan selection process. Hospitals should ask themselves if they communicate with consumers concerning the plans the hospital participates in as a preferred provider. Hospitals should also consider employing or affiliating with certified application counselors.
3. Evaluate branding and value. Hospitals should consider whether they are trusted providers in their communities, how they are portrayed by local health plans and whether or not patients will demand that they are in-network providers.
4. Review network contracting. If hospitals aren't already preferred providers in networks for health plans, they should determine what they need to do to be included, or if they should launch their own narrow-network plans.
5. Align with local policies. State and local laws and regulations should support hospitals' strategies, according to the AHA.
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