A New Healthcare Strategy Using an Old Way of Thinking

A New Healthcare Strategy Using an Old Way of Thinking

Academic Article:  Business Leaders

New Way to Pay Doctors --- UnitedHealth, Nation's Largest Insurer, Is Latest to Announce Fee Overhaul

falseAnna Wilde Mathews.Wall Street Journal [New York, N.Y] 09 Feb 2012: B.1.

For years businesses have been in a fight till the death when it comes to attracting and maintaining customers.  We can see this when we engage in businesses such as retail stores, car dealerships, and restaurants.  However, when we think of healthcare insurance companies, it is rare that we associate them with customer satisfaction and advocates on our behalf. 

UnitedHealth Group (UNH) is changing the way we think of healthcare insurance and has become the leader in the insurance business world.  In a recent article,New Way to Pay Doctors---UnitedHealth, Nation's Largest Insurer, Is Latest to Announce Fee Overhaul ,UnitedHealth Group is rolling out a market changing plan.  The giant insurer has finally jumped on board with the theory that if money is tied to how good of a job you do, then the better of a job you will do. 

 UNH new plan is now aimed at providing quality care for patients, “new contracts nationwide that could include financial rewards for care the company considers high-quality and efficient, and in some cases potentially withhold expected increases if certain standards aren't met (Mathews par.3).”  Visits to the physician, readmissions, and continuous care will now be backed by the peace of mind for many UNH members that top care and payment will go hand in hand.  Other big name insurance companies seem to be getting the message and jumping on board.  Executives have already taken far too long to notice that healthcare insurance is like any other business, and customers must be attracted and maintained.  UNH has tapped in on unmarked territory and should continue to build on this theory and perhaps make this new plan the face of UNH. 

Could this new way of delivery of care be the future of healthcare?  If healthcare advertising and efforts to maintain a significant customer base follow the footsteps of other mainstream businesses, than this new plan seems to have a promising future.

References:                                                                                                                                                                      

Mathews, Anna Wilde (2012).  New Way to Pay Doctors --- UnitedHealth, Nation's Largest Insurer, Is Latest to Announce Fee Overhaul.  Wall Street Journal Feb 2011, Vol. 259 Issue 32