Open Banking Survey: Healthcare Data Sharing

Open Banking Meets Healthcare: US Consumers Demand Seamless Medical Data Sharing

US Consumers Want Open Banking in Healthcare

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The survey, conducted by a leading market research firm, sought to gauge consumer sentiment regarding the sharing of medical records and data between different healthcare providers. The results revealed that an overwhelming majority of respondents, approximately 85%, expressed a strong desire for their healthcare data to be easily accessible and shareable between various healthcare services organizations, such as hospitals, clinics, and pharmacies.


The desire for increased interoperability in healthcare is rooted in several factors. Consumers often find themselves navigating a fragmented healthcare system where different providers use incompatible systems and formats for medical records. This can lead to inefficiencies, duplicated tests, and challenges in accessing comprehensive health information, which is essential for well-informed medical decisions.


Open banking principles, adapted to the healthcare sector, aim to address these issues. By allowing patients to have control over their health data and granting access to authorized healthcare providers, this approach can lead to better care coordination, reduced medical errors, and improved patient outcomes.


Furthermore, the survey indicates that consumers are increasingly aware of the benefits of open banking in healthcare. Around 70% of respondents recognized that open banking principles could enhance healthcare access and delivery, leading to more personalized and effective medical treatment. The growing awareness of the potential advantages of open banking in healthcare is driving consumer demand for change in the sector.


The potential of open banking in healthcare is not limited to patient data exchange. It also extends to financial aspects, particularly medical billing and insurance claims. Respondents in the survey expressed a desire for more transparency and control over their healthcare expenses. Open banking principles could enable consumers to easily access and understand their medical bills, allowing them to make informed decisions and manage their healthcare finances more effectively.

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