Healthcare cannot curb spending or improve quality without technology and engaged consumers, said Steve Case, co-founder of America Online and chairman and chief executive of Revolution Health Group at the Healthcare Financial Management Associations yearly meeting in Las Vegas.
Healthcare lags major retailers and other industries, such as finance, where technology aids consumers, who have more choice, more financial risk and more responsibility for their choices, Case said.
Consumers will demand more as they shoulder a greater share of the healthcare costs, Case said. They want to live longer, healthier lives without going broke, he said. Technology can better enable consumers to make informed decisions and monitor their health and healthcare. To remain competitive, hospitals and other healthcare providers must better position themselves to be more transparent. Imagine that this is more of a retail market, he said. Imagine that it works like every other market in your everyday life. (Please see the Executive Interview Podcast in the Beyond the Headlines section below.) -- by Melanie Evans