Survey Finds 36% of Americans Have Researched Healthcare Service Prices, 60% of Those Who Do Would Look to Health Insurance Firms for Pricing

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Within the national survey of greater than 2,000 adults, 36% indicated they’ve researched prices for healthcare services. Of those individuals, 60% would look to their insurance provider for pricing information, with nearly half (44%) reporting they might look on the web sites of health insurers, and greater than 1 / 4 (29%) would call their medical health insurance company. (Respondents could select multiple option):

  • 44% would try searching for pricing information on the medical health insurance company website
  • 39% would visit a physician or hospital website
  • 34% would opt to call their physician or hospital for pricing information
  • 32% would access a patient portal for the knowledge
  • 29% would call their insurance company

Moreover, 44% of survey respondents say their medical health insurance company doesn’t provide pricing information for local healthcare providers, and 34% do not know if this information is offered.

“As the information indicates, patients are most frequently either turning to their insurance company or to their care provider through quite a lot of platforms to grasp their price of care,” said Ben Beadle-Ryby, co-founder of AKASA. “Clearly, each providers and payers have a critical role to play, and the healthcare industry as an entire must work together to holistically improve price transparency, which is a key piece of the puzzle to improving the general patient financial experience.”

As of July 1, 2022, the Centers for Medicaid and Medicare Services require health plans to be compliant on various initiatives related to cost transparency, including making “machine-readable files” (MRF) available to the general public which provide information on in-network insurance rates and out-of-network charges. Nevertheless, consumer advocates query the worth to patients because the MRF format shouldn’t be user-friendly nor easy to interpret. 

The YouGov survey, commissioned by AKASA, fielded responses from 2,026 Americans between March 9–14, 2022. The net survey was conducted at a confidence level of 95% and results for the overall sample have a margin of error of +/- 2.18%, while results amongst those that have sought prices for healthcare services have a margin of error of +/-3.65%. The figures have been weighted and are representative of all US adults 18 and older.

Survey Methodology

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2026 adults, of whom 721 confirmed having ever tried to search for prices for care or services needed. Fieldwork was undertaken between ninth–14th March 2022. The survey was carried out online. The figures have been weighted and are representative of all U.S. adults (aged 18+).

About AKASA

AKASA is the leading developer of AI for healthcare operations. AKASA scales human intelligence with leading-edge AI and ML securely trained on customer data to learn unique systems, constantly adapt to changing environments, and deliver comprehensive automation and analytics for complex workflows. The result’s a seamlessly integrated, customized solution that reduces operating costs, frees up staff to do the work they love, and helps health systems allocate resources to where they matter most.

AKASA has a work-from-anywhere attitude and we’re hiring. Step into the long run of healthcare with AKASA. Learn more at www.AKASA.com/careers.

SOURCE AKASA

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