By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    An Expert’s Guide To Building and Improving Endurance
    June 30, 2022
    medical assistants
    What Do Medical Assistants Do On a Day to Day Basis?
    April 5, 2022
    superfoods to help with prostate health
    10 Healthy Foods That Can Help Protect Your Prostate
    August 29, 2022
    Latest News
    Why Custom Telemedicine Apps Outperform Off‑the‑Shelf Solutions
    July 20, 2025
    How Probate Planning Shapes the Future of Your Estate and Family Care
    July 17, 2025
    Beyond Nutrition: Everyday Foods That Support Whole-Body Health
    June 15, 2025
    The Wide-Ranging Benefits of Magnesium Supplements
    June 11, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    pfizer and clinical data transparency
    Pfizer to Expand Clinical Trial Data Access, Takes Step Toward Transparency
    December 6, 2013
    Improving Healthcare Services And Management Through Tech Integration
    June 9, 2020
    obamacare and the uninsured
    Why Hospitals Are Still Gouging the Uninsured
    January 7, 2014
    Latest News
    How IT and Marketing Teams Can Collaborate to Protect Patient Trust
    July 17, 2025
    How Health Choices and Legal Actions Intersect After an Injury
    July 17, 2025
    How communities and healthcare providers can address slip and fall injuries with legal awareness
    July 17, 2025
    Let Your Lawyer Handle the Work Before You Pay Medical Costs
    July 6, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Healthcare Consumerism
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Business > Healthcare Consumerism
Business

Healthcare Consumerism

Chris Hoffman
Chris Hoffman
Share
5 Min Read
SHARE

As a senior analyst for a research based investment bank, it shouldn’t be surprising when personal health experiences and areas of focus for our strategic advisory practice collide.

With increasing frequency, TripleTree is discovering thriving healthcare solutions whose business model is based on consumerism.  This is a departure from traditional models where health plan reimbursement ruled the day, and fee-for-service payment models were avoided.

As a senior analyst for a research based investment bank, it shouldn’t be surprising when personal health experiences and areas of focus for our strategic advisory practice collide.

With increasing frequency, TripleTree is discovering thriving healthcare solutions whose business model is based on consumerism.  This is a departure from traditional models where health plan reimbursement ruled the day, and fee-for-service payment models were avoided.

More Read

IHT2 Summit in Seattle
Adopting Technology in Healthcare for the Right Reasons
Digital Marketing Pitfalls and How to Avoid Them in Healthcare
Despite Botched ObamaCare Rollout, Public Still Trusts Democrats on Healthcare
How Much Does an MRI Cost? $425 to $2530
Beyond the Buzz: The Beginners’ Guide to Healthcare Blogs

My recent experience with a Lasik consultation offered a terrific case study on the force multiplier of consumerism and prompted me to conduct a quick assessment of its impact on elective surgeries.  Done thousands of times each day at clinics in every community, elective procedures like Lasik are the apex of value pricing, where customer service is the only differentiator between providers.

  • Patient experience:  After some online research, I scheduled an appointment with a clinic and my experience commenced in a flower-adorned office (resembling more of a day spa than an out-patient waiting room).
  • Patient information:  First step…upon check in, an iPad was provided as a platform for capturing personal information and answers to a battery of questions.
  • Patient preference:  Second step…a selection of color preferences was offered to support my experience.  Upon blurting out “yellow”…not only was a yellow folder and welcome packet presented, but now a range of “yellow themed” accoutrements will follow me through the procedure.
  • Patient peace of mind:  Third step…a facility tour.  Here is where my yellow theme will come to life as the surgical procedure is staged and conducted in a glass surrounded room where lighting, music and temperature are tailored to my preference.
  • Patient education:  Fourth step…dilate my eyes for pre-op consultation.  Again, an iPad was presented, but this time to play an informational video trumpeting the credentials of the surgeon, facility and post-procedure information.
  • Patient access: Last step…a discussion with the surgeon including thorough Q/A session and the encouragement to contact him (phone or email) with any questions.

This all points to how aware this clinic was to my choices, and its local competition.  In fact, health information tools like Castlight Health show me that 10 Lasik clinics are within a 20 mile radius of my home.

Consumerism in healthcare isn’t a zero sum calculation…but when viewed through the lens of a Lasik consultation (sorry, pun intended); perhaps it can be considered as a formula that calculates the “economics of trust” as one weighs hope for improved eyesight with the decision of who can provide it.  Or:

“A provider’s ability to differentiate

as it relates to my health need”

+

“The level of frustration that my ‘other doctors’

don’t offer the same individualized approach”

Consumer engagement and consumerism is a primary theme of our research agenda for 2011 and we’re starting to see the emergence of “consumer as payer” drive a range of innovations…in Lasik and other more pressing areas like diabetes management.  Retail health settings (MinuteClinic); community health approaches (LifeLine Screening); tailored care (GetWellNetworks); drug prescription kiosks (InstyMeds); and other compelling innovations are converging on the consumer as health reform shifts payment models from pure fee-for-service to value-based approaches.

My Lasik procedure at $1200 per eye comes with a lifetime guarantee…but when its all said and done, my out of pocket will actually exceed $3000.  The side note (as my husband pointed out); is that because my out of pocket ‘elective’ procedure will help me say goodbye to my eyeglasses; he’ll happily elect to say hello to a new set of golf clubs to keep things in balance.

Let us know what you think!

Joanna

Joanna Roth is a Senior Analyst at TripleTree covering the healthcare and technology industry, specializing in education solutions. Follow Joanna on Twitter or e-mail her at jroth@triple-tree.com.

TAGGED:healthcare business
Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

botox certification
Help Improve People’s Skin Health Via Botox Certification
Skin Specialties
July 22, 2025
Telemedicine Apps
Why Custom Telemedicine Apps Outperform Off‑the‑Shelf Solutions
Health
July 20, 2025
Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
How IT and Marketing Teams Can Collaborate to Protect Patient Trust
Global Healthcare Policy & Law
July 17, 2025
paramedics in surgical gloves and masks
How Health Choices and Legal Actions Intersect After an Injury
Health care
July 16, 2025

You Might also Like

Having a Social Media Crisis? Here’s What to Do

May 8, 2014
Knee arthroscopy charges and payments
FinanceHospital Administration

Insurers’ payments vary more than hospital charges, data shows

September 8, 2015

Addressing Medical Errors: Working to Improve Care and Reduce Costs

September 27, 2012
Image
BusinessNews

Choosing Wisely and Delivering Value in Obstetrics & Gynecology

April 29, 2013
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?