NATIONAL REPORTS-Concern regarding financial conflict of interest for physicians has led to calls for disclosure of financial incentives to patients.
NATIONAL REPORTS-Concern regarding financial conflict of interest for physicians has led to calls for disclosure of financial incentives to patients.
"There has not been widespread disclosure by physicians or physician groups in part because there were concerns that disclosure would be too complex, might raise troubling questions for patients, and ultimately might damage the doctor-patient relationship," explains Steven D. Pearson, MD, of Harvard Medical School in Boston.
Transparency is a critical factor in advancing consumerism in healthcare, but disclosing physician incentives is only one part of the puzzle, according to MHE Editorial Advisor Joel Brill, MD, chief medical officer for Predictive Health LLC.
"Once the patient knows what their dollar is purchasing, and what they are receiving for it, they can then make an intelligent value-based purchasing decision, one that should help to restore patient trust in the healthcare system."
Dr. Pearson and colleagues conducted a study to evaluate the impact of physician group disclosure to their patients of the compensation model and key financial incentives for primary care physicians in the physician groups.
The study, which was published in the Annals of Internal Medicine (March 27, 2006), found that among diverse patient populations at two large physician groups in the Los Angeles and Boston areas, a single, mailed disclosure letter was associated with improved knowledge of physicians' compensation models.
"Patients' trust in their physicians was unharmed, and their loyalty to their physician group was strengthened," Dr. Pearson says. "This study suggests that many patients hold mistaken impressions of how their primary care physician is paid, a mistaken impression that may be based on negative press in the 1990s on the 'perverse' incentives of managed care. Since the current managed care landscape for physician compensation has shifted in recent years, disclosure by physicians groups may help disabuse patients of fears of intense financial conflict of interest.
"For physician groups with similar compensation programs to those of the groups in this study, which are compensation programs likely similar to many larger physician groups, a single mailed letter of disclosure to patients should be considered an effective method to enhance the patient-physician relationship and to improve loyalty of patients to the physician group," Dr. Pearson adds.
Breaking Down Health Plans, HSAs, AI With Paul Fronstin of EBRI
November 19th 2024Featured in this latest episode of Tuning In to the C-Suite podcast is Paul Fronstin, director of health benefits research at EBRI, who shed light on the evolving landscape of health benefits with editors of Managed Healthcare Executive.
Listen
The Growing Popularity of Non-hormonal Menopause Therapy
February 12th 2025Menopausal patients are most interested in learning more about non-hormonal treatments to address their symptoms, according to the results of an international survey led by the Menopause Priority Setting Partnership (MAPS). Monica Christmas, M.D., director of the menopause program at the University of Chicago Medicine and the Center for Women’s Integrated Health, discussed the survey details with Managed Healthcare Executive.
Read More
In this latest episode of Tuning In to the C-Suite podcast, Briana Contreras, an editor with MHE had the pleasure of meeting Loren McCaghy, director of consulting, health and consumer engagement and product insight at Accenture, to discuss the organization's latest report on U.S. consumers switching healthcare providers and insurance payers.
Listen
Sarepta Announces Positive Results for Elevidys, Gene Therapy for Duchenne
February 12th 2025Results show improved functional outcomes for people with Duchenne muscular dystrophy who are ambulatory. Elevidys, which is priced at $3.2 million per dose, produced $821 million in net product revenue for the company in 2024.
Read More