Is Your Bundled Care Plan Market-Ready?
The retail giant is paying for the care, the travel, and the expenses entailed during travel for its employees and dependents.
The further away from an urban center a person lives, the more likely they are to travel further. For example, 35% of those polled who live in a rural area say they would leave the state for care. Javanmardian also hypothesizes that a person's willingness to travel also depended on their medical condition.
"I've seen it anecdotally," she says. "When people have cancer you'll see [them] go to Sloan-Kettering or MD Anderson, the places that have a brand."
Which care is bundled could become a competitive advantage, similar to the brand standing that hospitals have cultivated. Javanmardian says the advantage could be had by any stakeholder—physicians, hospitals, and payers, because half of those surveyed said they would switch hospitals and specialists if the cost of treatment were 10% less.
"Insurance companies who offer these kinds of products can position it in a market in a way that the consumers will understand it, and will get the choices that they need at an affordable or a competitive pricing. That's going to be the next step for the foundation of the beginning is just to create a bundle... and move from there," she says.
The survey is the first in a series Booz will release this year to quantify the interest in bundled payment arrangements. The company says it plans on talking to physicians, hospitals, payers, and employers.
Jacqueline Fellows is an editor for HealthLeaders Media.
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