A survey conducted by AKASKA, a leading developer in Artificial Intelligence for healthcare operations, released findings demonstrating how individuals research healthcare. The survey indicated that Americans often turn to health insurers for pricing rather than other sources. In addition, the findings of this survey showcase the need for both payers and providers to be proactive on price transparency measures.
Survey Findings
Among the 2,000 adults who participated in the survey, only 36% indicated that they researched prices for healthcare services. In addition:
- 60% look to their insurance provider for pricing information
- 44% look on the websites of health insurers for information
- 29% would call their health insurance company for information
In addition to the statistics above, respondents said:
- 44% say their health insurance company does not provide pricing information for local healthcare providers
- 34% are uncertain if this information is available
On July 1st, 2022, the Centers for Medicaid and Medicare Services began requiring health plans to comply with several initiatives related to price transparency. The goal is to provide consumers with the necessary information to make knowledgeable health care decisions. Along with price transparency, health plans must provide machine-readable files (MRF) with information on in-network and out-of-network insurance rates. However, some question how valuable the MRF format is because it’s not user-friendly and difficult to interpret.
Stop Questioning Your Health Plans
Medical coverage isn’t just a benefit for employees; it’s a necessity. At GMS, we provide our clients with various tools and resources to find a coverage solution tailored to their needs. Not only do we provide clients with the buying power of a large corporation, but we’re able to offer financial security, flexible benefit options, and an unprecedented customer service experience. Along with your dedicated benefits specialist, you gain access to a team of experts who train your employees on how your plan works and answer coverage questions. Health insurance is complicated, allow GMS to support you. Contact us today.