In a recent survey and study completed by Medscape Multispecialty, a division of WebMD, over 6,300 physicians across the United States rate the best and worst insurance companies. How does your medical team feel about your insurance company?
Doctors and healthcare providers have a “love/hate” relationship with insurance companies. Every time we consult with our clients about “payers” in the system, the healthcare providers bristle about the frustrations they have with insurers, and immediately launch into the latest story about “those idiots”.
The most recent 2014 Medscape Multispecialty survey is very helpful for all industry participants to learn what doctors’ think are the most important things about healthcare finance.
The highlights from the physicians’ survey include:
What qualities are most important in an insurer?
The top three answers are Reimbursement rates, Ease of doing business, and Frequency of denials.
Which insurers do doctors consider the best?
The top four insurers are Blue Plans, Aetna, Cigna, and Harvard Pilgrim Health Plan, however all four insurers rated just slightly over average on a scale of 1-5. The Blues and Aetna were the top two insurers in the 2011 study, and Cigna and Harvard moved up in rankings since 2011.
Which insurers had the fewest denials?
Surprisingly, Medicare was ranked the best, followed by the Blues and Aetna.
Which insurers had the speediest claim payments?
The best insurer was the Blues, followed by Medicare and Aetna.
For more details about the demographics and survey results, visit the most recent 2014 Medscape Multispecialty survey >>