Transparency in the Evolving Health Care Market

The Affordable Care Act has had the unintended effect of boosting developing private exchanges markets where uninsured consumers compare and purchase high-deductible health insurance plans (HDHPs), according to Aite Group. As a result, the U.S. has 75 million HDHP consumers who have a serious reason to be more price-sensitive than traditionally insured consumers, the research firm said in its report, “Transparency in Healthcare: A New Market.”

Over the next 24 months, the growing HDHP market will bring increased attention to consumer transparency, and while much of that attention will be generated as private exchanges become a reality, the demand for greater price transparency is not exclusive to HDHP consumers. Uninsured consumers and non-HDHP insured consumers also seek out information aligning the quality of care with the cost to receive that care, according to the report. And providing the availability of consumer price information prior to making an appointment, at the point of service, and once the bill is received, becomes ever important.