NASHVILLE, Tenn.--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
TRUST IN HEALTH PLANS HITS LOWEST LEVEL IN MORE THAN A DECADE, ACCORDING TO REVIVEHEALTH TRUST INDEX
Consumers’ Desires Low Priority for Industry’s Major Players, Harsh Realities about the State of Consumer-Driven Healthcare Highlighted
Findings from the 11th Annual ReviveHealth Trust Index™ reveal trust in healthcare is dismal across the board, and trust in health plans is at an all-time low. The survey represents the first 360-degree view of trust in healthcare – digging into consumer, physician, health plan, and health system executives’ views of each other – showing the industry as a whole has a long way to go. Factors driving widespread distrust in health plans by provider organizations include the hassle of doing business with payors and a lack of progress toward new models of payment and care.
In addition to dissatisfaction with their healthcare coverage, it is evident that for payors, consumer-centric healthcare is simply lip service. When asked to rank 11 factors driving the transition to value, health plans selected “public sentiment about healthcare costs and coverage” dead last. Focusing on consumers in this year’s survey brings a new level of depth to the findings which have historically focused only on B2B aspects of health services.
“Consumers’ lack of trust should come as no surprise given the complexity of the healthcare system and how little healthcare’s central players trust each other,” said Brandon Edwards, chief executive officer of ReviveHealth. “Our research shows that consumer desire is not driving the transition from volume to value-based care. If the onus continues to be placed on individuals to manage their financial responsibility for healthcare, it’s reasonable to expect physicians, health systems, and health plans must band together to close the trust gap amongst each other and their customers.”
If any one industry group needs to look inward and make operational adjustments more than the others, it’s health plans. Payors received a collective failing grade (59.1 out of 100), attributable to a slew of factors including aggressive negotiation tactics, increased market share and narrow networks, and administrative inefficiencies.
“The difference in satisfaction among different health plans was greater than it was among any of the other industry groups,” said Dan Prince, VP Customer Engagement, SMG Catalyst Healthcare Research. “While all six health plans performed poorly, Cigna received the highest aggregate score among major insurers by a very narrow margin. UnitedHealthcare received the lowest composite score for the same time period. Hospital executives, physicians and consumers have had historically low trust in health plans overall, but the results show some health insurance companies are faring better than others.”
The state of trust in healthcare is poor, and the survey results point to its continued decline. There’s opportunity, however, for industry organizations to leverage communication, amongst one another and their customers, to strengthen trust. With more effective communication between industry cohorts, the patient experience can improve. Consumer trust in the healthcare system will follow.
ReviveHealth partnered with SMG Catalyst Healthcare Research to administer the survey, conducted June 6 – August 11, 2017. A total of 1,369 complete responses were collected: 604 consumers, 600 practicing physicians, 117 hospital and health system executives, and 48 health insurance executives. The ReviveHealth Trust Index™ measures the attributes of honesty, fairness, and reliability, and then weights the scores equally to create a composite index number between one and 100.
About SMG Catalyst Healthcare Research
Nashville-based SMG Catalyst Healthcare Research specializes in providing ongoing customer feedback programs, brand tracking research, and employee engagement studies for the healthcare industry, including providers, plans, and suppliers. The firm was recently acquired by Service Management Group (SMG). SMG partners with over 450 brands around the globe to measure customer and employee experiences in order to help clients listen better, act faster, and outperform competitors.
About ReviveHealth
ReviveHealth, a Weber Shandwick company, is a full-service agency focused on the intersection of healthcare delivery, finance, and innovation. Clients include healthcare companies reaching across the provider, payor, service and technology landscape. ReviveHealth’s work and culture are perennially recognized by its peers and industry leaders, including 2016 Small Agency of the Year finalist (PRWeek) and 2016 Boutique Agency of the Year/Best Agency to Work For (The Holmes Report). ReviveHealth has more than 70 employees operating out of three offices nationwide in Nashville, Minneapolis, and Santa Barbara. Explore and follow ReviveHealth at thinkrevivehealth.com and on Twitter at @ThinkRevive.