Differentiate Your Practice With a Unique Patient-Centric Approach
A flurry of new laws around consumer-focused price transparency is causing a stir across the healthcare industry. But if you’ve been following the healthcare consumerism trend, it shouldn’t come as a surprise. Consumerism is built on the tenet that patients have full access to cost and pricing information to make decisions about their health, and these new laws are likely just the start of a series of regulatory initiatives designed to mandate pricing transparency. But these transparency laws are also a reminder that many of the tried-and-true practices associated with building and maintaining a patient population are about to be disrupted.
Providers have traditionally built their practices on word of mouth or being in the right contracted networks. And while these are still valuable marketing resources, they are just a starting point. The ability to view costs before scheduling a visit gives patients a valuable tool when comparing one practice with another similar practice within a five-mile radius. If you want to continue to compete for patients in this competitive environment, you must focus on differentiation.
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