Healthcare Industry Experts Forecast Price Transparency Is Coming Soon

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As consumers face higher and higher out-of-pocket costs for healthcare services, they will demand greater value, according to a comprehensive report published by healthcare industry experts Daniel WeinbachRichard Klass, and Justin Irizarry. The three announced the publication of their white paper, “Healthcare Pricing Strategies In A World Of Price Transparency.” The report examines the current status of healthcare price transparency and explains how providers can prepare for a new era where consumers are likely to shop for certain services using price as a key variable in their decision making.

The authors have made the report available for download at http://www.weinbachgroup.com/articles/healthcare-pricing-strategies-in-a-world-of-price-transparency.

The three men developed the report in response to widespread interest following the American Hospital Association’s 2017 conference of healthcare strategy and marketing executives, known as SHSMD, which stands for the Society of Healthcare Strategy and Market Development. They were invited to present at the gathering of more than 2,000 industry decision makers.

“Healthcare pricing remains mysterious and opaque, in large part because of conscious efforts on behalf of the healthcare provider community,” said Daniel Weinbach, president and CEO of The Weinbach Group, a Miami -based marketing firm that specializes in the healthcare industry, and one of the report’s co-authors. “However, when it comes to shoppable services — those services that are widely available and which require the patient to pay a significant share of the cost — we expect to see far more transparency surrounding pricing. Patients will demand it.”

Read the full article on Market Insider.

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