Azar says economics and competition should drive the healthcare marketplace

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Pricing transparency has become personal for Azar. He was recently hospitalized for diverticulitis, and he says that experience “crystallized the importance of making progress toward interoperability, price transparency and more affordable healthcare,” according to an article in HealthCareDive.[1]

In his speech to the American Hospital Association, Azar “plugged HHS’ effort in the Medicare 2019 proposed hospital inpatient payment rule to increase price transparency, adding that the requirement for hospitals to post standard charges in a machine-readable format online is only a first step to combating practices such as surprise billing.”[2]

The article further quotes Azar:

We are mindful of how [regulations] could be driving consolidation in the marketplace. As a matter of principle, we want to move to a system where our regulations and payment systems are agnostic about ownership structures. Economics and competition should drive markets, not us.[3]

Consumers will finally have the market they deserve in healthcare. The question is, are you ready to act now, get ahead of the pack and win the game by giving your patients the “Amazon” experience?

You aren’t simply facing compliance issues. Moving to a retail model with published prices is a “must do” if you are going to survive from a competition standpoint. Just this week, more hospitals filed bankruptcy because they stayed with the status quo. Bay Area Regional Medical Center in Webster, Texas and Twin Rivers Regional Medical Center in Kennett, Missouri are two of the latest hospitals to fall after five hospitals closed and/or filed bankruptcy in 2018, according to Becker’s Hospital Review.[4],[5],[6]

Don’t wait until you’re forced into compliance to adopt a consumer model. To survive, it’s time to move. Today. HealthQRS has a platform that allows you to publish an online retail market for your patients right now.

HealthQRS has already created the patient-friendly interface that provides the “Amazon” experience in healthcare and you can implement that solution immediately. We are a software-as-a-service (SaaS), so you have no capital investment, just a low monthly fee. We also have a smartphone application that consumers can use to access actual costs. Using our system instead of relying on the chargemaster will allow people to see actual costs and not suffer from sticker shock. You can use this to comply with the government’s requirements as well as market your services.

Our e-commerce medical marketplace platform is the perfect vertical application for integrated delivery networks. Our solution provides regulation compliance and serves as a marketing tool for your services. At the same time, we will solve your bad debt issues caused by not collecting from consumers, and many other benefits.

HealthQRS’ robust medical marketplace is set to help people who need lower cost options. Our solution allows consumers to connect to lower-cost services such as telehealth services and clinics.  Not only do we have an online marketplace that provides a full retail experience including accurate pricing (not just estimates), but we are enabling technology that provides telehealth connectivity as well. Our technology enables people to connect to more cost-effective, consumer-oriented healthcare options. If consumers opt for an in person visit, we can even help them find a ride to an in person visit, whether via Uber, taxi cab, or public transportation, for example.

Give consumers what they want: access to the real costs of healthcare. Give them a way to shop, schedule and pay for services from their phones. This is an opportunity to go beyond what the government is requiring. You can turn an edict into a positive for your market share. In addition, our solution will solve your bad debt issues because we help you collect upfront. Our solution can be used for large employers, payers, and even state governments to manage their Medicaid programs.

HealthQRS has over 15 years of experience developing healthcare retail experiences for people and our founders have over 50 combined years of e-commerce experience. Our E-Commerce Medical Marketplace Flyer provides more information. We invite you to contact us or schedule a demo right now to get a jumpstart on 2019.

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[1] David Lim, “Azar urges acceleration of care to non-hospital settings in AHA speech,” HealthCareDive, May 9, 2018, https://www.healthcaredive.com/news/azar-urges-acceleration-of-care-to-non-hospital-settings-in-aha-speech/523171/

[2] Ibid.

[3] Ibid.

[4] Alyssa Rege, “Texas hospital to close, lay off 900 employees and file for bankruptcy,” Becker’s Hospital Review, May 7, 2018, https://www.beckershospitalreview.com/finance/texas-hospital-to-close-lay-off-900-employees-and-file-for-bankruptcy.html

[5] Ayla Ellison, “116-bed Missouri hospital to close next month,” Becker’s Hospital Review, May 8, 2018, https://www.beckershospitalreview.com/finance/116-bed-missouri-hospital-to-close-next-month.html

[6] Ayla Ellison, “5 latest hospital bankruptcies, closures,” Becker’s Hospital Review, Apr. 11, 2018, https://www.beckershospitalreview.com/finance/5-latest-hospital-bankruptcies-closures-041118.html

 

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