New PHI 'Whitecoat' website is set to disrupt doctors and specialists

Australians enjoy standards of healthcare second to none. We have world-class doctors, hospitals and a dual public-private system that ensures everyone has access to treatment and care.

As in every country, however, the healthcare market is fundamentally inefficient. There's far too much evidence of avoidable hospital admissions, unreasonable costs, "out of pockets" and unwarranted variations in treatment. Our chances of having a major joint replaced can vary for no reason other then where we live and the doctor we choose.

The most significant factor behind this inefficiency is the weak position of healthcare consumers compared to sellers. In most other markets as a consumer, I generally have as much information about my needs and preferences as the seller. Healthcare is very different. Typically, I'll simply defer to whatever the doctor or dentist proposes, acknowledging their superior knowledge of the condition I have and treatment options. Economists describe this as "information asymmetry" – lay people call it "doctor knows best".

As a consumer it's absolutely in my best interests that clinicians know all about my condition and how best to treat it. But that's not suggesting we can't do more to inform consumers about their conditions, treatment options and clinical choices in the digital age.

Tackling information asymmetry, and putting relevant information on consumers' desktops or mobile devices has led to a digital platform and directory we call "Whitecoat". Not unlike Trip Advisor, it allows consumers to search, find and book a clinical provider as well as review and share their experience. Already it hosts over 40,000 providers (thus far mainly allied providers such as dentists) and shares 250,000 patient reviews. While consumer engagement has been limited to nib's one million members, last week we, Bupa and HBF announced a joint venture to expand Whitecoat's reach to almost six million Australians – almost half the entire insured population.

We expect Whitecoat to become the "go-to" digital platform for consumers navigating the healthcare ecosystem. It should be available to any health insurer (and indeed any healthcare payer, private or public). An attraction for insurers is Whitecoat has capability for "members only" sub-sites to provide their own members with comparable cost information, any "preferred" No Gap or Known Gap arrangements they have with doctors, dentists and clinicians.

Specialists included

Importantly for consumers, Whitecoat is close to including medical specialists. Worldwide experience shows consumers value reliable information on clinical performance and patient outcomes. For example, men contemplating a prostatectomy are interested in what other patients have self-reported about outcomes such as incontinence and impotence. I was pleasantly surprised that, after last week's announcement, Whitecoat was deluged with positive interest from several hundred GPs and specialists.

There's also a wide range of other opportunities for both consumers and clinicians in automating everyday practice transactions. In a world where online and mobile service are fast becoming the norm, the healthcare sector has been slow and clunky. People should be able to find a clinician online, make appointments, fill prescriptions and pay/claim the bill. And Whitecoat facilitates that.

In other markets, digital platforms such as Trip Advisor and Yelp are empowering consumers and levelling the playing field between sellers and buyers. There's nothing doctors, dentists and other clinicians should fear, including consumers sharing their opinions on the quality of the service and the way they're treated as customers of what are, after all, businesses. More informed consumer engagement in decision-making, greater transparency around performance and cost and more automated transactions can only be good for clinicians. We also see GPs using the consumer-derived information and systems Whitecoat delivers in helping decisions on referring patients.

Clinicians can also be assured all reviews are carefully moderated, they can respond before publication and ultimately, they can opt out of Whitecoat altogether. Any future publication of clinical data will similarly be highly-regulated and cognisant of the need to "risk adjust" patients' experiences for complexity and other factors.

I'm confident clinicians who look after their patients as consumers as well will see Whitecoat as an opportunity rather than a threat. It's an overdue win-win-win for the three "Ps" – patients providers and payers.

Mark Fitzgibbon is managing director of health insurer nib