It’s no secret that people are not happy with their insurance providers. A recent study showed that only 30% of people are satisfied with their health care. But it’s important to understand why this is the case. Insurance providers are not to blame; they are simply trying to make money in an industry rife with problems.
The difficulty in making money as an insurance provider can be summed up in one word: risk. Health insurance is a risk-versus-reward proposition. The goal of any insurance company is to take on as much risk as possible while still making a profit. This balancing act is made all the more difficult because insurance companies do not control what happens between the doctor and the patient. They are at the mercy of the medical system, which is notoriously inefficient.
Insurance companies have to monitor claims and adjust premiums accordingly constantly. This is why premiums seem to go up yearly, even if you haven’t filed a claim. Insurance companies are simply trying to stay afloat in an industry fraught with problems. If you’re unhappy with your insurance company, you must understand they’re not to blame. They’re just doing their best.
Access to your complete medical records is helpful for insurance companies to provide you with the best service. Most of us have incomplete medical records, much less give our insurance, doctors, and caregivers access to each record. More access means less risk for the insurance provider, and less risk means less premiums.
It’s important to remember that insurance companies are businesses. Their primary goal is to make a profit, plain and simple. And while this may be frustrating for consumers, it’s essential to understand that the system is far from perfect. Insurance companies face many challenges in making money, and they cannot always meet our expectations. However, we must remember that they are not to blame; they do their best to operate in an imperfect system.
- Do you think the lack of access to medical records is a problem for the patient and the insurance company?
- How do you think the insurance company could improve their services for people?
- What access to your medical records do you provide your health insurance?
- What do you think would be a better solution for both the patient and the insurance company regarding medical records and risk management?
