The healthcare industry is emerging with an unprecedented level of transformation. The rise of consumerism is one of the key reasons behind the evolution of healthcare sector. Consumerism plays a crucial role in the healthcare business by encouraging patients to become true consumers of healthcare. Resultantly, the healthcare industry is now evolving from sick-care industry to a consumer-driven industry where consumers are actively involved in their health decisions.
Today’s
patients have more capital at stake, more options to make decisions,
and more knowledge to consider than ever before. Patients are now
aware of their consumer rights and thus, are capable of making the
best decisions for their health, considering the quality and cost of
healthcare services like they do with other commodities.
The
three key factors driving the patient towards healthcare decision
making are – the emergence of health insurance products; the
evolution of private and public insurance exchanges; and the
propagation of websites and tools offering transparency into price
and quality.
Now,
healthcare providers are expected to give more details to the
consumers in the market. Patients are more attentive while choosing
health services and are more aware of medical billing, multiple
healthcare technologies, and payment systems. So, they approach for
medical treatments with great concern and look for services and tools
that are synced according to their health and lifestyle.
Both
healthcare providers and consumers play an essential role in
healthcare consumerism as patients expect reliable products,
high-quality services, and better experience from the healthcare
providers. When consumers spend on healthcare treatments, they
preferably search for healthcare providers catering easy to use and
reliable billing and payment systems. Therefore, healthcare consumers
and patients hold complete control over how and where their money
gets spent.
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