Miami Healthcare Executives Advise National Audience About Impending Price Transparency

Hospitals and health systems are ill-prepared to contemplate price in their overall positioning. We are here to change that.

Before an audience of strategy officers from some of the nation’s most prominent hospitals and health systems, Daniel Weinbach, president and CEO of The Weinbach Group, a healthcare advertising agency, warned, “Price transparency is coming, and you need to determine how your organization will position itself in an era when cost will figure into your patients’ purchasing decisions.”

Weinbach, who heads the Miami-based healthcare marketing firm, along with Justin Irizarry, CFO and co-founder of OrthoNOW, and Richard Klass of KPI partners delivered their presentation at the Society for Healthcare Strategy & Market Development (SHSMD) annual “Connections” conference on Tuesday, September 26. SHSMD is the marketing wing of the American Hospital Association and the most prominent voice and resource for healthcare marketers, strategists, and public relations professionals in the United States. Weinbach and his Miami public relations firm have been involved with SHMD since 2010.

The SHSMD conference attracted nearly 2,000 healthcare marketing professionals, and the event included sessions from some of the nation’s most distinguished thought leaders in the healthcare marketing and communications space, including Weinbach, Irizarry, and Klass.

“Thanks to high-deductible health plans and increasing insurance premiums, the healthcare cost burden is shifting, and consumers bear a greater portion than ever before,” said Weinbach. “However, despite growing price sensitivity among their customers, hospitals and health systems are ill-prepared to contemplate price in their overall positioning. We are here to change that by identifying which healthcare services are ‘shoppable,’ and how healthcare organizations can demonstrate value.”

The three executives’ presentation, “Pricing Strategy in a World of Price Transparency,” was part of the advanced learning track for healthcare strategists. It addressed the complex and often illogical pricing structure under which the healthcare industry operates. The presentation also reported on the status of healthcare price transparency, for which…

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