UnitedHealth puts robust price transparency tools in consumers' hands

Tools

FHP: What do you think is the benefit, given the time, effort and cost involved, for UnitedHealth to provide these free price transparency tools?

Bogatyrenko: We feel it's our responsibility, and consumers expect us as an insurance company to give them tools to better manage and understand their benefits so they can make informed choices. So the value to UnitedHealth is establishing stronger relationships with consumers to create more informed and loyal consumers.

FHP: What are the next steps for the myHealthcare Cost Estimator and Health4Me? Do you plan on analyzing any of the data from the tools?

Bogatyrenko: In terms of dollars saved, we're starting the savings analysis now. I have some data that's anecdotal in specific markets, but it's too premature to share. One data point I can share is that users of the tool are upwards of 9 percent more likely to see a premium-designated provider, who is a doctor meeting the UnitedHealth premium designation standard for high-quality and high-efficiency. When that happens, those consumers actually see a cost reduction, a savings of on average about 10 percent. So there will be a lot more to come as we look at specific markets and practices like radiology and physical therapy. We also are comparing costs between people who use the tool and people who don't.

[Editor's Note: This interview has been edited and condensed for clarity.]