74% of Those Surveyed Are Frustrated Managing Their Medical Bills

As any startup knows, understanding the needs of your target audience is fundamental to success.  Nevermind what you think of your product, if it renders useless in the eyes of your customers, start packing your bags cuz they ain’t gon’ buy.

At Cake Health, our bags are unpacked and we’d like to stay here a while.  So to ensure a lifelong residence in our new SOMA office, we’re on a mission to get to know our users, their health care habits, and how we can help them better manage and track their medical expenses.

In order to do this efficiently and effectively, we’ve developed a number of approaches to get to know our customers, from requesting feedback via email to taking our users out to coffee – and we’re learning a ton!

Just recently we created and distributed a survey to Cake Health users that asked about the ways in which they handle their health insurance bills, claims, and their thoughts on the process.  We predicted that many of our users have been in the dark about all things healthcare-related, and what we found proved our hypothesis to be true.

See below for the eye-opening results:

78.7% of respondents reported one hour of time spent on managing medical expenses — one hour!  That means the majority of us are spending the same amount of time assessing our health insurance as we are eating lunch!  It’s no wonder that we’re confused not to mention missing out on the opportunity to catch medical errors and over billing.

No surprise here.  The health care system is extremely flawed, resulting in ‘somewhat’ to ‘extremely’ frustrated men and women (74%).   This percentage is what we are working hard to decrease.

 

Exactly half of our survey respondents answered “Yes” to finding an error in medical billing.  At Cake Health, we’re aware of the commonality of this issue. In fact it’s been reported that 8 out of 10 medical bills contain errors.   

One again, evidence of men and women who are left in the dark about their options.

As our survey results suggest, there is a disconnect between the insured and the health insurance itself.  Many of us do not fully understand our bills or how to manage them, leaving us feeling confused and sadly, defeated.

The good news is, we get it.

At one point or another we too were in the dark, until we created a system that turns on a light.  And it is our hope that Cake Health makes your health care expenses as easy to understand as it did for us.

*This survey was published by SurveyMonkey and yielded 329 responses.

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One thought on “74% of Those Surveyed Are Frustrated Managing Their Medical Bills

  1. PatientUp says:

    Thanks for the survey data – supports your mission to help patients make sense of medical bills. It’s what we see as well on cost side of healthcare. Patients are not on fair footing with their hospital or doctor when it comes to understanding the cost of care, or in how much they can afford to pay for healthcare.

    As long as many healthcare providers don’t focus on improving operations and lowering costs, and we don’t have more competition in healthcare by increasing the supply of doctors, nurses and other sources of services so that costs come down, we are going to continue to see inflation in costs patients are going to have to pay. And more patients are going to fall into significant financial distress left to fend of collective agencies and lawyers unleashed by their hospital and doctors if the status quo doesn’t change quickly. What’s the incentive in the industry to improve costs when many hospital executives are making seven figure salaries, specialty docs are raking in $400k+ salaries, and insurance companies are increasing premiums 8% + or more each year. Nothing is going to change and patients are left holding the financial bag when so many are unemployed, underinsured, foreclosed, and in dire financial straits.

    It’s why we started a movement @PatientUp (www.patientup.com) to lower healthcare costs and give patients leverage to lower their own healthcare costs through collective action. It’s high time the patient had a say in their cost of care and received real fair help on medical bills. Join us to make a difference and bring fair change to healthcare.

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