“Is something better simply because it is more expensive?”
While the concept in question pertains to many market areas, it seems to be very applicable when it comes to healthcare. Many believe that the cost of care directly determines the quality of care. But does it? Not necessarily.
In the United States, healthcare spending is the highest when compared to anywhere else in the world; yet, health outcomes (such as life expectancy) and quality of care is not ranked as high as it should be if this concept were true.
When it comes to healthcare, and really any other market, quality is not solely determined by how much you spend.
For example, let’s say you buy a designer bag like Gucci which can cost upwards of $4,000. While the materials and production process certainly make a “Gucci” bag a high-quality bag, it wouldn’t be true to say that the Gucci bag is of better or higher quality than a non-designer bag made of the same material costing significantly less.
Another factor you might consider then is how marketing and name-branding affects cost. As with the previous example, a brand, such as Gucci, can make a product seem higher quality though it doesn’t mean that it is.
Likewise, when considering the cost of a medical procedure, people assume they are going to be getting better quality of care if they pay more when, in fact, it makes no difference.
For example, the same board-certified surgeon could cost $55,000 for a knee replacement at a hospital, but could cost $17,000 at another facility. What’s the difference? The facility. Not the doctor, not the quality, just the geography.
Many members have concerns that a lower-cost option for care is sacrificing quality, but it is simply not the case. At MotivHealth, we want to help our members understand that they can save money on healthcare just by being aware of prices and making smart healthcare decisions, such as receiving care at one facility over another. Brick and mortar matters.
“What we’re trying to do is to get people to view their healthcare in a way in which changes the perspective that “I have a choice.” In today’s market of healthcare, we don’t get a lot of options. Often times we’re referred over by someone, and during that time we don’t know if that’s a good doctor or a bad doctor, we don’t know if that’s high quality versus low quality, and the intent of MotivHealth is to change that.”
– Myles Kevern, Director of Service Delivery at MotivHealth.
Have an upcoming procedure? Call us today and see how you can save with MotivHealth. (844) 234-4472.
This is so true, and price transparency is helping to change this in fundamental ways.