As consumers experience more information transparency across various industries, many expect more accessible, user-friendly data around healthcare. The result has left some entities struggling to keep up with rising expectations, while others have adjusted by lowering prices, improving quality of services, and focusing on patient experiences.
Still, despite these consumer preferences and push, in our 2019 Consumer Health Insights Survey, only a fraction of respondents said they have been able to retrieve the information they sought when making healthcare decisions, contributing to low satisfaction. Our analysis shows that when respondents can access relevant information when making a healthcare decision, they will choose an option that best meets their needs. They often look for lower costs, even if it means making other trade-offs (for example, a more convenient location).
More than 60 percent of patients report they want more information when deciding where to get care. In a world of limited information, some patients chose to look for more information, while nearly 49 percent of respondents stated that they instead chose to follow the recommendation for care from their doctor, clinician, or health insurer.
In our analysis, about 90 percent of respondents chose the lower-cost, in-network options that were of average quality over the higher-quality,4 higher-cost options. Our research suggests that providing consumers with better and more accessible information could have a profound impact on how decisions are made (Exhibit 1).
Source: McKinsey Payer Insights July 2020 | Jenny Cordina and Sarah Greenberg