Low Consumer “Literacy” of Healthcare System Estimated to Cost $4.8B Annually, Accenture Report Finds
Summary
“Consumers are expected to understand and navigate the complex layers of a healthcare system that was not designed with them in mind,” said Jean-Pierre Stephan , managing director of health engagement at Accenture.These consumers struggle to make informed decisions about everything from the health plan types they choose and the premiums they pay to the doctors they see and the procedures they have done.If all consumers had a high understanding of how to navigate the healthcare system, health insurers could save US$3.41 billion a year in administrative costs.These savings would be even greater if the analysis accounted for the impact of low healthcare system literacy on medical costs.The Accenture healthcare system literacy index evaluates the degree that consumers can obtain, understand and navigate information and services to make health decisions.