Taking Control of Your Healthcare

July 10, 2014

The Important Role of Women in Healthcare Decision Making

Healthcare is complex, expensive and often confusing. More and more people are entering the healthcare world with little experience or knowledge of how to become a more empowered consumer.

But, as healthcare becomes more complex, solutions are becoming more readily available, allowing regular citizens to become confident and comfortable in their healthcare world.

One of the first concerns or questions that comes to mind when thinking about healthcare is cost. A recent Ameriprise study revealed that 2 in 5 women (41% of those studied) consider themselves the primary financial decision-makers.

What does this mean for healthcare costs? With women making approximately 80% of the healthcare decisions for themselves and their families, and now becoming more empowered financial decision-makers, many women will reflect these healthcare decisions when it comes down to their families’ bottom line. With more fiscal empowerment and responsibility, women in the household may take further time to research their healthcare options about not just the level and quality of care, but to the cost of service.

Many women, especially those with limited time, are also looking to healthcare services to help them research their healthcare options. Services like Kare360 feature a Healthcare Navigation service that researches physicians, specialists and hospitals and also provides health cost estimates so members can choose their provider weighing factors like location, services, costs and reviews.

“Women are more financially empowered now than ever before, and this is reflected in the Women and Financial Power study,” said Suzanna de Baca, vice president of wealth strategies at Ameriprise Financial.

Will this financial empowerment translate to healthcare consumer empowerment? I believe so, especially with more available solutions and increased consumer knowledge of healthcare.

Topics: Business Operations

Mike Martin

The Karis Group

Mike was born, raised and spent a large portion of his professional career as a healthcare CEO in Baton Rouge, Louisiana before moving to Central Texas in 2003. He achieved success as a senior-level executive in several different industries and career paths but most enjoyed those that afford him the opportunity to make a positive impact on peoples lives. The attainment of a Bachelor of Science and Masters in Public Administration degree from Louisiana State University after completing military service was the foundation for Mike’s life-long career of service to others. After serving in the administration of Louisiana Governor David Treen, he began a career in healthcare as the CEO of a regional, non-profit, cancer treatment, research and education center. It was during these years that his passion for the patients led him to champion causes for quality, affordable patient care – regardless of ability to pay. Mike’s experience as a seasoned healthcare executive coupled with a real desire to serve others led him to The Karis Group in January, 2010. Having witnessed the devastation that the incongruences in healthcare pricing structures, reimbursement mechanisms and collection systems have on the average family in America, Mike saw an opportunity to “have a transformational impact on peoples’ lives” through the products and services offered by Karis. Mike resides in Georgetown, Texas with his wife of over 33 years, Mary Beth. His spare time is devoted to involvement in his church and community service.
Read more articles from Mike Martin

Guide to Business Borrowing

Learn what banks are looking for when they prepare to make loans. Our guide covers what business owners need to know when they prepare to borrow.

BBoT-COVER-GeneralBorrowing

Download eBook