A seven-minute video from the Robert Wood Johnson Foundation’s Aligning Forces for Quality (AF4Q) program explores the importance of transparency in healthcare cost and the need for data on the real costs of healthcare services. The video provides three perspectives on the need for healthcare cost data, including what’s at stake for patients, providers, and employers; and how to nurture a cost-transparent system that empowers all players to make better decisions.
In his earliest days as a philanthropist—although he refused to describe himself as such—Johnson worked hard to assist Johnson & Johnson employees, and other members of the local community to ride out the storm of the Great Depression. Early in the Depression, Johnson gave employees a five-percent hardship bonus. He often reached into his own pocket to help workers who had fallen on hard times.
In late 1936, he created the Johnson New Brunswick Foundation with 12,000 shares of company stock—worth about $5.4 million today. His aim was simple: to help people who were down on their luck. Many applied; few were denied.
Thanks to ePatient Dave deBronkart, who is another powerful voice in patient engagement and healthcare cost transparency, I now know that the Robert Wood Johnson Foundation – one of the most respected research foundations in healthcare – also thinks that asking “how much is that?” is a critically important question in healthcare.
What’s the bottom line of healthcare cost transparency?
Here’s a video they posted a year ago. Still fresh today. Sing it with me: how much IS that? And start using the just-Symplur-registered Twitter hashtag #howmuchisthat to spread the word so we can get to the bottom of healthcare cost once and for all.