How to Grow Market Share with Price Transparency

Competing for Patients in a Cost-Conscious Market

Read the study to learn how to produce consistent and accurate price estimates, train staff to explain variations in prices and payment responsibilities, promote transparency tools, and more.

How to Grow Market Share with Price Transparency

Today’s price transparency pressures are an opportunity in disguise for many provider organizations. When done correctly, offering price information to consumers can attract price-sensitive patients and protect patient loyalty.

Facing an uphill battle to provide price information

Demand for price information is increasing, but many providers struggle to generate meaningful estimates. Prices vary significantly with patient-specific inputs, and even if providers come up with an estimate, it’s often inaccurate or confusing.

Solving these problems is a good first step toward business growth, but it won’t guarantee patients will take advantage of price data. Many consumers don’t know how to access or use price estimates when making their health care decisions or that it exists at all.

So to realize return on price transparency investments, providers must ensure accurate estimates, help patients understand price information, and build awareness of transparency tools and efforts.

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