Can you help me understand this Marketing question?
As healthcare becomes more driven by consumer demands, information transparency such as quality data, clinical outcomes, patient satisfaction results, and pricing has become more universal.
For this journal assignment, imagine you have been hired as a healthcare consultant to help a physician determine if the practice should provide price and information transparency to their patients and payors.
To help the physician make an informed decision, answer the following questions:
- How could increased transparency provide a positive financial return for the practice?
- How could transparency to quality data or patient satisfaction results help or hurt the practice?
- What type of information should be transparently provided? How could this information be gathered and accessed?
- If the physician transitions to a more transparent practice, which financial reports should be used to determine if providing transparency was a good decision?
Use your textbook and the report Price Transparency in Health Care to support your answers.