DALLAS, June 12, 2016 /PRNewswire/ — A new 2016 HealthMine survey of 750 consumers enrolled in wellness programs found that 70% do not compare prices before shopping for medical services or pharmaceutical drugs. Health plan sponsors may not be doing all they can to help; only 29% include a price comparison tool. This is despite growing industry and consumer awareness that medical procedure costs vary widely by location and provider.
As consumers struggle to manage growing healthcare costs driven by rising premiums and out-of-pocket expenses, they desire more guidance. Forty-two percent said that having a price comparison tool in their wellness program was “very important.” Another 48% said it would be nice to have.
How important do you consider a price comparison tool for medical services/pharmaceutical drugs?
However, some consumers may not have a clear understanding of their responsibility when it comes to their healthcare costs. Forty-one percent (41%) of those who don’t compare costs before scheduling services say that is because the “cost is covered by my health plan, so it doesn’t matter.”
Why don’t you price shop?
Survey results show that consumers who do compare healthcare prices use the telephone to do so more often than an online tool.
How do you price shop?
Bryce Williams, CEO and President of HealthMine said, “When consumers don’t look into healthcare prices in advance, they are effectively taking money out of their wallet with a blindfold on.” He continued, “As Americans learn how to be better healthcare consumers, their plan sponsors can help facilitate better transparency by providing access to cost comparison tools.”
About the Survey
The HealthMine Wellness Program Survey queried 750 insured consumers who are enrolled in a wellness program. The survey was fielded by Survey Sampling International (SSI) in May 2016. Data were collected via an opt-in panel. The margin of error is 4%. Survey Sampling International (SSI) has been the Worldwide Leader in Survey Sampling and Data Collection Solutions, across every mode, for 37 Years.
HealthMine is a leading healthcare technology company with the mission to improve health outcomes one person at a time. HealthMine has created an unparalleled Personal Clinical Engagement solution that makes it easy for members to manage their health because they know: 1) where they stand, 2) what they need to do, and 3) what’s in it for them. The platform works by automatically intaking each member’s clinical and behavioral health data, and analyzing it through a rigorous, clinical rules engine. HealthMine identifies healthy, at-risk, and chronically sick individuals in a population, uncovering health risks that often go unnoticed. Applying deep understanding of a member’s health, lifestyle and behavioral patterns, HealthMine creates a dynamic, personalized health action plan that tracks outcomes. Serving more than one million members, HealthMine has saved employers and payers more than $100 million in healthcare costs. The company was founded in 2008 and is based in Dallas, Texas with offices in San Mateo, California, and Eatontown, New Jersey.