One of the problems with our healthcare system is that patients have no skin in the game when it comes to the cost of a medical procedures. This is unfortunate since the cost of healthcare services can be wildly different - for the same thing!
In general most consumers make buying decisions every day that are very rational. Think shopping on AMAZON. You know what you need. You do a search. You see lots of options and you can view the price of every one. You can also read reviews. Ultimately you can develop a sense of the value you will receive for your purchase (value being your own formula for what something is 'worth' to you).
Does anything like this process take place for a knee replacement, a hernia repair or even an MRI?
The truth is healthcare services are really blind items. We don't know the cost and we don't know the quality.
That being said how can consumers get a good value and how can employers know they are spending money wisely?
For employers this is a HUGE problem since they are the ones footing the bill.
Dr. Eric Bricker does a nice job bringing to light this problem in his most recent VIDEO.
Since the healthcare system is not designed, as it stands, to 'drive to value' employers need to re-think their healthcare plan strategy if they want to control costs and improve quality. The great news is this is not overly hard to do and the end result can be savings for everyone and better care for employees.
Who wouldn't want to pay the least for the best? Employers and employees just need a little help shopping!
