Price transparency and healthcare consumerism are top of mind for many operators and observers of the healthcare industry. On the surface these topics sound great. Of course, we want to enable patients to be good consumers of healthcare. However, as we’ve seen so often on this show, aligning the obvious with the realities of the business of healthcare is no small feat. Today we’re talking with Dr. Steve Ambrose about healthcare costs, pricing and consumerism. We discuss what these terms mean and why they are important. Then we dig into examples of companies that are already making an impact on these issues. We discuss:
- Companies that are helping to lower healthcare prices like ONCOspark (24:22), GoodRX (41:05), Transcarent (48:42), Cedar (53:24), Green Imaging (55:23), and more.
- What is going on in the retail space with the likes of Walmart, Target, Amazon and others (27:07).
- And companies working to reduce administrative costs like Olive (1:04:00) and LeanTaaS (1:08:51).
This is an exciting space that is full of potholes and false promises. However, it is also a space where good companies are beginning to make progress. And that progress may offer us a glimpse into the future of healthcare.
Dr. Steve Ambrose
Dr. Steve Ambrose is a healthcare strategist with 25 years in clinical, technology, patient engagement, and consumerism. He is selectively reviewing options to place his talents and passion into his next FT leadership role. Dr. Ambrose may be reached through the contact information on his LinkedIn profile.
Links and Resources
- Watch the interview on YouTube: https://youtu.be/IXxM7eqTETY
- Steve Ambrose on Drug Pricing and GoodRX: https://walktheridge.com/drug-pricing
- Health Care Spending in the United States and Other High-Income Countries – this is the Ashish Jah study on healthcare prices and costs that Steve mentioned.
- Walmart acquires telehealth provider MeMD, upping competition in telehealth space
Several recent #HCBiz episodes on AI/ML in healthcare administration:
- Episode 162: What’s up with IBM Watson Health? A Discussion on the State of AI in Healthcare with Paddy Padmanabhan
- Episode 159: A Practical Look at Machine Learning in Healthcare with Josh Miramant
- Episode 147: Applying Conversational AI to Reduce Provider Burnout from HealthIMPACT Live’’
Listen to the full interview on Healthcare Costs, Pricing, and Consumerism with Dr. Steve Ambrose
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