BusinessFinanceHealth ReformHospital AdministrationPolicy & LawPublic Health

Medicare’s Data Release Places More Power in Hands of Informed Medical Consumers

1 Mins read

medicare data releaseYesterday, Medicare released data on in-patient hospital costs across the country to provide consumers/patients with cost comparison information.

medicare data releaseYesterday, Medicare released data on in-patient hospital costs across the country to provide consumers/patients with cost comparison information. Unsurprisingly, the data are interesting and price discrepancies staggering, but the release of the data itself is also fascinating as yet another example of big government opening its vaults, so to speak, as well as adding more momentum to the power shift in healthcare from physicians/providers toward consumers/patients.

This move clearly speaks to the idea that access to information can drive behavior/decision making and that access to cost information can harness the power of the medical consumer to drive costs down.

The team at Popper and Company has focused, since the firm’s inception ten years ago, on technologies and services that improve quality and decrease cost in healthcare. We believe that three big trends at play today clearly support this:

  1. “Consumerification” – the rise of the power of the consumer
  2. Access to information
  3. The convergence of technology from other industry segments (e.g., Telecom)

As I asked in an earlier post, is the U.S. consumer ready for so much service choice (or, in this case, so much information)? Where does the responsibility for consumer education fall? Leave your comments below.

(image: Medicare data / shutterstock)

Related posts
BusinesseHealth

6 Tips for Medical Companies to Improve the Patient Experience

3 Mins read
Few individuals actively look forward to a trip to a medical facility or hospital. Rather, people often feel nervous, concerned, or ––…
Global HealthcarePolicy & Law

Do HMOs Deserve A Bad Reputation? The Truth Of Managed Healthcare

3 Mins read
Have you ever heard people say that HMO health insurance is no good? It’s no secret that HMOs have a bad reputation,…
Policy & Law

Top 4 Important Things To Understand About Insurance

2 Mins read
When it comes to Medicare, the enrollment process can be a little tricky. That’s why it’s important to understand the relevant health…