The New Wave of Healthcare Consumerism

 

As consumers, we’re used to shopping around for the best price. But there’s one marketplace where a frustrating lack of transparency in pricing still exists — healthcare. In this episode of the Healthcare Podcast, host Shelby Skrhak sat down with Ryan Coplon, CEO of HealthWallet to discuss how disruption in the healthcare industry is driving a new wave of consumerism in the marketplace.

Often insurance companies treat their provider-negotiated pricing as proprietary information, which makes it difficult for patients to be responsible, cost-conscious consumers. Austin-based HealthWallet is a health concierge app that helps consumers take a more active role in healthcare decision making with costs and options.

Telehealth and virtual healthcare have played a big part in healthcare consumerism, making care more accessible and convenient for many, Coplon explained. It’s popping up in national pharmacy chain websites, insurance companies’ member websites, and patient portals.

But as with any disruptive technology, telehealth has faced obstacles with widespread adoption. “As compared to most technological disruption capabilities, telehealth has lagged in terms of global utilization,” Coplon said. A lot of that stems from unfamiliarity with how a virtual doctor visit works.

That’s why some companies are covering 100 percent the cost of these telehealth visits so that patients can experience it without a co-pay, Coplon explained. It’s just one-way companies are affecting the healthcare supply chain.

“Instead of buying from an insurance company that says, ‘Here’s where you buy drugs and what they cost,’” Coplon said. “Companies are skipping that and contracting directly with local pharmacies. Now, if you cut the [middle man] out and contract directly between the local pharmacies and employer groups, they both come out net better by a mile.”

For the latest news, videos, and podcasts in the Healthcare Industry, be sure to subscribe to our industry publication.

Follow us on social media for the latest updates in B2B!

Twitter – @HealthMKSL
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Image

Latest

facing adversity head-on
Facing Adversity Head-On: Leadership Insights From Charmeachealle Moore
July 23, 2024

Welcome to “Through the Storm,” where resilience and facing adversity head-on takes center stage. If you were to look up the word in the dictionary, you might just find a picture of Charmeachealle Moore, known affectionately as Mike Moore. His life story reads like a testament to unwavering determination and perseverance. Mike is a…

Read More
Breaking the Cycle and Inspiring Others
July 23, 2024

Nowadays, the traditional path to education is being questioned more than ever and there are numerous stories that provide a beacon of hope for those considering alternative routes. As the number of adults without a high school diploma reaches nearly 22 million in the United States, the importance of understanding and embracing non-traditional education…

Read More
School Safety and Regulatory Compliance
Approaching Safety and Regulatory Compliance with Intent and Purpose
July 23, 2024

In this episode of School Safety Today by Raptor Technologies Michelle Dawn Mooney sat down with special guest, Carrie Mockler, the Vice President of Operations at PublicSchoolWORKS, a Raptor Technologies company. PublicSchoolWORKS is a fully automated, all-in-one learning management system for online training for school staff and a comprehensive risk management program. Key Takeaways: •…

Read More
The Power of Self-Compassion in Leadership and Cognitive Diversity Can Transform Workplaces
July 23, 2024

Mental health and a sense of belonging are critical issues in today’s workplaces. So much that it is essential to practice self-compassion and form a better understanding of cognitive diversity. Leaders today must navigate the complexities of fostering connection and reducing isolation among their teams. Recent studies indicate that 40 percent of employees feel…

Read More