January 8, 2009

10 Ways Healthcare Consumers Are Cutting Costs

By Wayne Glowac

http://www.marketwatch.com/news/story/Ten-Ways-Trim-Your-Health/story.as...

I read this article in MarketWatch last week; it offers tips on saving healthcare dollars for consumers. While you may skim over it because the article is directed at consumers, it offers great insight into what your consumers are thinking. Here are each of the tips, with suggestions for you, the provider, to consider:

1) “Examine your insurance options”
The article suggest consumers look into a health savings account (HSA). And, we’ve seen in recent research that HSA’s are growing more than any other type of account. This means your organization should be marketing these accounts more than before.

2) “Ask about cash rates and discounts”
Highlight money-saving programs and opportunities for consumers. Even though they’re cutting costs, they still have to choose where to spend their limited dollars.

3) “Shop for better prescription deals”
Make negotiating for better prescription prices easier for patients. Or highlight your health plan’s options for saving money on prescriptions.

4) “Ask about generics”
Highlight your hospital’s pharmacy and encourage patients to get their generics there. Consider partnering with generic brands to save money for you and your patients.

5) “Cut office-visit costs”
Market area retail clinics that your organization is partnered with, or has on campus. Consider offering a copay-free visit for new patients. Feature free clinics or low-cost one-time consultation programs you have available.

6) “Shop for procedures and lab work”
Show your customers a menu of what you offer and the costs. Be as transparent about costs and availability as possible.

7) “Medical Tourism”
Consider adding medical tourism to your offerings to attract patients from outside of your typical service area. Make travel and transportation easy, and highlight the money they can save by simply taking a trip for their surgery.

8) “Do your homework”
The article suggests consumers do their homework online before a visit, so why not have them do their research on your website? Include a resource library in your next web budget so patients don’t have to look anywhere else.

9) “Become an active, less passive patient”
Encourage your patients to be consumers; promote wellness programs and patient-driven initiatives. Give them the tools to actively manage their ailments on their own.

10) “Consider OTC options”
Invest in designing digital and printed brochures or materials to help your patients with common ailments. Focus them on prevention. For instance, a pamphlet about the common cold could include tips about activities and nutrition to prevent getting sick.

Finally, patients are truly becoming consumers, and it’s time to strategically market yourself with them in mind.

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