Saving money by helping to increase consumer confidence and health care literacy should be a priority in today’s often fractured and always expensive health care system.
A Thomson Reuters study estimates that health care costs can be cut by $36 billion dollars by helping consumers make smarter decisions. On this episode, Julian Lago, President of Benezon, helps us to learn how advisors can help consumers understand what they don’t know and how to make those decisions.
Managing health care continues to be a reactionary process based on the current situation in which a consumer finds themselves. They tend to scramble when they have an urgent health care issue. Trying to figure out what resources are suitable in a time of need can be confusing and frustrating. Advisors can use a “concierge” type service to extend their value to members by helping them avoid that pre-care confusion.
The rising cost of out-of-pocket expenses and increased complexity of billing systems presents additional opportunities for advisors to provide value-based advocacy programs after treatment. Consumers are rarely aware that hospital bills are routinely error prone and open to negotiation.