Why Are Patients Terrible Consumers of Sick Care?

Patients are terrible consumers of sick care services. Most attribute it to the lack of price and quality of care transparency and the incentives to make rational purchases. However, as behavioral economists have learned, consumers are not rational but, instead, are driven by strong psychological and emotional factors that explain patterns of consumption. What’s more, understanding personal spending versus spending for the common good gets even more complicated and difficult to understand.  – See more at: http://www.hcplive.com/physicians-money-digest/contributor/arlen-meyers-md-mba/2016/05/why-are-patients-terrible-consumers-of-sick-care#sthash.mSd99uZS.dpuf