News Briefs Archive

New Survey Findings: The Importance of Transparency in Healthcare Pricing

Nov. 16, 2022

AKASA, a developer of artificial intelligence for healthcare operations, released findings from a new survey ​​conducted on its behalf by YouGov, which highlights how limited price transparency in healthcare can influence patient decisions on whether to seek necessary care and how the lack of awareness about financial resources offered by health systems puts patients at a disadvantage when managing medical bills.

More than 2,000 Americans were asked: “If you were unaware of the price ahead of the care or service, would you be deterred from seeking out care or services for any of the following individuals?”

Myself

  • 40 percent said they wouldn’t be deterred from seeking out care from themselves based on lack of healthcare pricing information
  • 35 percent said they would be deterred from seeking out care for themselves if they were unaware of pricing for necessary care or services
  • 25 percent said they didn’t know if lack of healthcare pricing information would or would not deter them from seeking care for themselves

Dependents

  • 51.2 percent said they wouldn’t be deterred from seeking care for dependents if pricing information wasn’t provided on necessary care or services needed
  • 18.3 percent of Americans said they would be deterred from seeking care for dependents if they were unaware of healthcare pricing information
  • 30.3 percent said they didn’t know if lack of pricing information would or would not deter them from seeking care for dependents

Parents/guardians

  • 50 percent said they wouldn’t be deterred from seeking care for parents or guardians if pricing information wasn’t provided on necessary care or services needed
  • 20 percent of Americans said they would be deterred from seeking care for parents or guardians if they were unaware of healthcare pricing information
  • 30 percent said they didn’t know if lack of pricing information would or would not deter them from seeking care for parents or guardians

“While many people may be more willing to invest in the care of loved ones, this trend is troubling as limited knowledge around pricing may discourage individuals from seeking care they need themselves,” AKASA said in a press release. “Delaying care can lead to more severe conditions which are often more complicated and costly to treat.”

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