DIGITAL FINANCIAL TOOLS IN ENHANCING COST TRANSPARENCY AND PATIENT AUTONOMY IN HEALTHCARE SYSTEMS
Keywords:
Digital Financial Tools, Cost Transparency, Patient Autonomy, Healthcare Systems, Health Savings Account, Price Transparency, Digital Billing, Patient Satisfaction, Healthcare Decision-MakingAbstract
Digital financial tools in healthcare has the potential to significantly enhance cost transparency and patient autonomy, two critical factors in improving healthcare outcomes. This paper explores the role of digital financial tools, such as price transparency platforms, health savings account apps, and digital billing systems, in making healthcare costs more transparent and empowering patients to make informed decisions. Through a review of current literature and analysis of case studies, the paper highlights the positive impact of these tools on patient satisfaction and healthcare system efficiency. The findings suggest that while digital financial tools can greatly benefit healthcare systems, their success depends on widespread adoption and the removal of barriers to access. The paper concludes with recommendations for policymakers and healthcare providers to promote the use of these tools as part of broader healthcare reform efforts.
References
Beauchamp, T. L., & Childress, J. F. (2001). Principles of biomedical ethics. Oxford University Press.
Bell, S. K. (2017). The impact of digital billing on patient satisfaction in healthcare. Journal of Health Economics and Outcomes Research, 5(2), 24-31.
Carman, K. L., Dardess, P., Maurer, M., Sofaer, S., Adams, K., Bechtel, C., & Sweeney, J. (2013). Patient and family engagement: A framework for understanding the elements and developing interventions and policies. Health Affairs, 32(2), 223-231.
Bayyapu, S., Turpu, R.R., Vangala, R.R. (2020). Digital health defense: Unraveling the latest strategies in cybersecurity for health information systems. International Journal of Electrical Engineering and Technology (IJEET), 11(3), 564-578.
Chernew, M. E., Rosen, A. B., & Fendrick, A. M. (2018). Value-based insurance design: a "clinically sensitive" approach to preserve quality while reducing costs. American Journal of Managed Care, 23(2), 93-100.
Desai, S., Hatfield, L. A., Hicks, A. L., Chernew, M. E., & Mehrotra, A. (2016). Association between availability of a price transparency tool and outpatient spending. JAMA, 315(17), 1874-1881.
Bayyapu, S., Turpu, R.R., Vangala, R.R. (2019). Advancing healthcare decision-making: The fusion of machine learning, predictive analytics, and cloud technology. International Journal of Computer Engineering and Technology (IJCET), 10(5), 157-170.
Ginsburg, P. B. (2016). Achieving health care price transparency. Journal of the American Medical Association, 316(7), 711-712.
Grande, D., Mitra, N., Shah, A., Wan, F., & Asch, D. A. (2014). The importance of purpose: Moving beyond consent in the socio-political context of research. The Journal of Law, Medicine & Ethics, 42(4), 531-538.
Hibbard, J. H., & Greene, J. (2013). What the evidence shows about patient activation: Better health outcomes and care experiences; fewer data on costs. Health Affairs, 32(2), 207-214.
Bayyapu, S. (2021). Bridging the gap: Overcoming data, technological, and human roadblocks to AI-driven healthcare transformation. Journal of Management (JOM), 8(1), 7-14.
Jones, S. M., Walker, L. J., & Greene, J. D. (2018). Digital health tools: improving patient autonomy and engagement in health decisions. Journal of Medical Internet Research, 20(4), e121.
Kaufman, B. G., Spivack, B. S., Stearns, S. C., Song, P. H., & O'Brien, E. C. (2019). Impact of accountable care organizations on utilization, care, and outcomes: A systematic review. Medical Care Research and Review, 76(3), 255-290.
Bayyapu, S., Turpu, R.R., Vangala, R.R. (2021). Banking in the digital age: Navigating transformations in business models, customer journeys, and operational excellence. International Journal of Advanced Research in Management (IJARM), 12(1), 110-118.
Yaraghi, N., & Du, A. (2015). Health information exchange as a multisided platform: Adoption, usage, and practice involvement. Journal of the American Medical Informatics Association, 22(2), 492-500.
Zulman, D. M., Kirch, M., Zheng, K., & An, L. C. (2011). Trust in the internet as a health resource among older adults: Analysis of data from a nationally representative survey. Journal of Medical Internet Research, 13(1), e19.
Bayyapu, S. (2022). Optimizing IT sourcing in healthcare: Balancing control, cost, and innovation. International Journal of Computer Applications, 3(1), 14-20.
Ancker, J. S., Edwards, A., Nosal, S., Hauser, D., Mauer, E., & Kaushal, R. (2019). Effects of workload, work complexity, and repeated alerts on prescribing safety. Journal of the American Medical Informatics Association, 24(6), 1026-1033.
Cutler, D. M., & Morton, F. S. (2013). Hospitals, market share, and consolidation. Journal of Economic Perspectives, 27(2), 97-102.
Bayyapu, S. (2020). Blockchain healthcare: Redefining data ownership and trust in the medical ecosystem. International Journal of Advanced Research in Engineering and Technology (IJARET), 11(11), 2748-2755.
Friedberg, M. W., Chen, P. G., Van Busum, K. R., Aunon, F. M., Pham, C., Caloyeras, J. P., ... & Tutty, M. (2014). Factors affecting physician professional satisfaction and their implications for patient care, health systems, and health policy. RAND Corporation.
Jain, S. H., Powers, B. W., Hawkins, J. B., & Brownstein, J. S. (2015). The digital phenotype. Nature Biotechnology, 33(5), 462-463.
Bayyapu, S., Turpu, R.R., Vangala, R.R. (2018). Healthcare payment portals and cybersecurity: A balancing act of convenience and protection. International Journal of Computer Engineering and Technology (IJCET), 9(2), 209-216.
Resnick, H. E., & Alwan, M. (2010). Use of health information technology in home health and hospice agencies: United States, 2007. Journal of the American Medical Informatics Association, 17(4), 389-395.
Rice, T., & Unruh, L. Y. (2016). The economics of health reconsidered (4th ed.). Health Administration Press.
Smith, M. A., & Clark, M. A. (2018). Use of healthcare price transparency tools: Consumer awareness and barriers to utilization. The American Journal of Managed Care, 24(6), 265-270.
Bayyapu, S., Turpu, R.R., Vangala, R.R. (2022). Algorithmic ethics and beyond: Upholding patient rights in the cloud frontier. International Journal of Information Technology (IJIT), 3(1), 9-16.
Thaler, R. H., & Sunstein, C. R. (2008). Nudge: Improving decisions about health, wealth, and happiness. Yale University Press.
Downloads
Published
Issue
Section
License
Copyright (c) 2023 Prathipa. A. R (Author)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
