Black Friday sale at your local hospital: Why health systems must accelerate the development of consumer strategies

Abstract

This paper examines the impact of high-deductible health plans on the healthcare marketplace and explores the evolution of patients into consumers. The authors sample some of the entry-level strategies health systems have employed to attract consumers, then highlight the importance of pricing in the next generation of strategies yet to be widely developed. The paper also draws comparisons to other industries that have been led by market forces to adopt more consumer-oriented business strategies, including commercial airlines. The authors conclude by highlighting several opportunities for health systems to become more consumer friendly, and they offer ideas for consideration.