Back in the day …… “A car pulls up and out of the station spring four uniformed attendants who not only fill the tank, but check the tire pressure and oil and wash the car’s windows.“
Then the government intervened…………….
“Government intervention unintentionally promoted self-service. The market’s discovery process, despite the regulatory obstacles, was at work. The gasoline shortage of 1974 educated motorists to serve themselves to reduce waiting in line, and the seller’s market deteriorated the quality of service.“
History repeats itself. We are seeing that today in health care delivery. Increasing government intervention and deteriorating quality of plan sponsored health care is driving change towards self-service.
Gone are the days of Third Party Motherhood with the rise of self-reliant plan members who, at the click of a button, are empowered to take back control of their health care needs in direct partnership with their provider of choice.
“Grandpa, what is a health insurance company? What is a PPO network? What is a hospital chargemaster no one ever pays?” asks little Johnny struggling to do his homework.
Artificial intelligence has revolutionized health care financing and delivery. Cash Pay Health Plans are on the rise and will not go away, only grow in market acceptance. PPO networks, hospital chargemasters, and third party intermediaries supporting the failed economics of the past 40+ years will be only a memory and the subject of Little Johnny’s homework assignment.
