Healthcare costs have long been opaque for most patients. When most of the population had insurance coverage, this was not a major concern for the consumers. But higher deductibles and the loss of coverage for many people has brought price into focus again. Do you think there is a simple way to make the costs transparent, given the complex nature of healthcare?

Reply to the following using at least 175 words. Be constructive and professional in your reply. Be sure to use full APA references and in-text citations.

1. You had an interesting description of the various factors that affect an individual’s perception of value. There is often a high degree of emotional content in how a service experience is perceived. Some customers value convenience over all other factors, as you mention. Some want the best medical expertise available rather than placing a high emphasis on customer service. A healthcare marketer must research the specific target group to find the common threads of perception.

A customer may be very willing to pay a high price for a good service, but often they want to know the cost in advance. If the cost will place a significant financial burden on them, then the quality of the service may not matter very much. Do you think the total cost should always be communicated in advance if it is known?

2. Good use of the quote about customers’ willingness to pay more for a service from a specific provider. This is relevant in healthcare only if the target group makes purchase decisions based on costs. Those with employer-provided coverage often do not do so, since the negotiated prices can be the same or fairly close. The part about meeting their needs better is probably more relevant for most of this group. The perception of their needs and how they are met becomes the most important factor.

Healthcare costs have long been opaque for most patients. When most of the population had insurance coverage, this was not a major concern for the consumers. But higher deductibles and the loss of coverage for many people has brought price into focus again. Do you think there is a simple way to make the costs transparent, given the complex nature of healthcare?

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