A new report released this month by PricewaterhouseCoopers (PwC) describes the U.S. health care industry’s billing and payment system as “a horse-and-buggy in a world contemplating driverless cars. ”Explaining that historically Americans were patients rather than purchasers of their health care services, the report indicates that current reforms and increasing deductibles are putting individual patients in the driver seat. The report indicates they are demanding more transparency, convenience, affordability and options with regard to health care billing and payment. The report, Money matters: Billing and payment for a New Health Economy, was prepared by PwC’s Health Research Institute (HRI), based on a survey of 1,000 adults, health care executives interviews and a review of 34 million Americans’ commercial payer claims in the Truven Health MarketScan® 2012 database. The survey revealed that individuals find healthcare billing confusing and lacking transparency, convenience and affordability. HRI’s claims analysis revealed that in 2012, 80% of the 34 million Americans whose claims were reviewed didn’t hit their $1,000 deductibles. Thus, it concludes that Americans will be paying more out-of-pocket for health care expenses and will demand new billing and payment options. The survey revealed that consumers want a variety of payment options, “seamless” and convenient…
