The billing experience in healthcare, which is marked by information asymmetry between providers and patients, is a frequent source of frustration and service dissatisfaction for patients. Patients may experience delays in billing, unclear communication of billing-related information, and uncertainty about responsibility for charges, which may suggest poor hospital accountability. Further, nearly 40% of Americans indicate that they are confused by the billing process, 29% indicate they are unsure as to what they are billed for, and a total of 76% of respondents affirmed that one of six survey options for improvements to billing were desirable, while 24% indicated an unlisted solution may improve the billing experience. The contemporary billing experience is thus not only a source of frustration for patients, but also a potential source for a decrease in individual and public trust in healthcare services and therefore may compact extant individual avoidance of healthcare due to anxieties about costs.
Rigging Drug Prices
Americans are deeply concerned about the cost of prescription drugs—and for good reason. Over the last decade, drug prices have outpaced inflation, and Americans are paying more than two and a half times what other wealthy nations pay for the same drugs. Most people believe high prices are simply the result of expensive research and development, which may hold for some...