OC Reilly Blog: Logical, Rational, Factual
By Ray Staudt, Executive Director, Business Development, OC Reilly Inc.
When you can see the full picture in evaluating a situation, better decisions follow. This is logical, rational, and best of all, factual. Trust, but verify.
As supply chain consultants, our clients count on the OC Reilly team of professionals to locate, uncover, and expose all options on various purchasing decisions, so that the strongest cost-efficiency balanced with the highest quality can always be the result.
Following that same business concept, Castlight Health, a San Francisco-based startup, earlier this year burst onto the healthcare market offering software through insurers and employers allowing consumers to comparison shop for healthcare services. According to an article in the Oct. 27, 2014, issue of Modern Healthcare, the Castlight Health strategy earned some critical validation.
The article, in part, reads, “Last week, researchers associated with the University of Southern California and Castlight published a peer-reviewed study in JAMA showing early adopters of the company’s pricing tools paid 14% less for laboratory tests and 13% less for advanced imaging compared with a control group that did not seek out price information…In an accompanying editorial, Princeton University healthcare economist Uwe Reinhardt wrote ‘price transparency works as economists expect it would.’ People will look for ways to pay less when they are assured that the quality of the competitors is equal…”
That may sound like the most obvious statement ever made, but often times the most successful business practices stem from the most common-sense ideas. When you dig a little deeper to be able to evaluate every facet of a decision – whether it be a supply chain purchasing contract, or lab work option – you set yourself up to make a better decision.
That’s logical, rational, and best of all, factual.