The patient asked Dr. Shah how much treatment was going to cost, and he hit a wall. He had no idea what the cost of care was. As a resident, he and many others abide by the Hippocratic Oath to first, do no harm, and always keep the patient’s health and safety at the forefront. In training, he says physicians simply are not trained to think about the cost, or financial well-being, of their patients. This lack of knowledge “eroded [the patient’s] trust in me,” Dr. Shah said.
Whitepaper: Defensible, Strategic and Informed Pricing – Deliver on Transparency and Grow Your Margin
As CMS requirements shift and consumer interests grow, healthcare providers need new tactics for reducing risk and creating true strategic pricing.
Almost weekly, the news features healthcare pricing in a negative light. While these stories are often twisted into attention-grabbing headlines, healthcare leaders are still left to wonder if their pricing is as accessible, defensible and strategic as it could be.
To read more about the challenges facing healthcare organizations, including CMS requirements and heightened consumerism, download this Strategic Pricing Whitepaper.