Cost transparency is a driving force in the American market. Whether consumers are looking to purchase a latte, a plane ticket, or surgery, they increasingly expect to pay an “out-the-door” price– something that includes all labor and materials as well as the finished product or service. When polled, 66% of Americans indicated that they would shop for care if prices were publicly disclosed. And in pursuit of competitively and transparently priced services, some patients attempt to shop locally;
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A Glimpse of the Holy Grail for Healthcare Cost Transparency
Imagine being told which car or computer you must buy and just forking over whatever it costs. Even if you might only be paying a portion of it, would you simply get out the checkbook? For decades American consumers have been writing blank checks for healthcare. Given that healthcare costs and consumers’ share of them continue to climb, we’ve all longed for the ability to see all options for medical procedures and prescriptions covered by our health plan and to choose the lowest-cost,
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Komodo Health, Turquoise Health Partner to Better Understand Price Transparency
What You Should Know: - Today, Komodo Health and Turquoise Health announce a partnership to bring data-driven intelligence to healthcare price transparency across the U.S. - Building on Komodo technology, Turquoise Health is strengthening the power of its platform with intelligence from the Komodo Healthcare Map. The partnership will equip Turquoise Health with information and insights to analyze patient journeys on a holistic basis to better understand the full constellation of costs
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Turquoise Health Integrates Price Transparency Data with Ribbon Health
What You Should Know: - Ribbon Health, an API data platform for the healthcare industry that powers care decisions, and Turquoise Health, a provider of structured data on the cost of care to make pricing data both transparent and accessible to patients, announced an integration partnership. - By integrating Turquoise Health's price transparency data into the Ribbon Health platform, healthcare companies will be able to effectively navigate patients to cost-effective and high-quality
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Turquoise Health Raises $20M for Healthcare Pricing Platform, Launches Direct Contracting Platform
What You Should Know: - Turquoise Health, an end-to-end healthcare pricing platform, today announced a $20M Series A investment led by existing investor Andreessen Horowitz (a16z), with participation from Bessemer, Box Group, and new investor Tiger Global. - Turquoise Health will use the funding to continue making transparent pricing ubiquitous for all healthcare stakeholders: payers, providers, and patients. Direct Contracting Platform In anticipation of July payer rates
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30 Executives Share Top Healthcare Predictions & Trends to Watch in 2021
As we close out the year, we asked several healthcare executives to share their predictions and trends for 2021. Kimberly Powell, Vice President & General Manager, NVIDIA Healthcare Federated Learning: The clinical community will increase their use of federated learning approaches to build robust AI models across various institutions, geographies, patient demographics, and medical scanners. The sensitivity and selectivity of these models are outperforming AI models
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Why COVID-19 Highlights Urgent Need to Humanize and Modernize The Patient Financial Experience
It’s no secret that COVID-19 and the
corresponding near-immediate economic catastrophe will be felt for
significantly longer than the few short months it took to wreak its initial
havoc. While losses hit businesses from “a to z” (...except maybe Amazon, ironically),
hospitals and health systems tasked with treating the victims of this pandemic
bear a particularly harsh dose of the financial fallout -- $72 billion in CARES
Act hospital grants barely serving as a band-aid to the financial
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Revenue Cycle Startup Rivet Lands $8.25M to Expand Price Transparency Platform
What You Need to Know: - Revenue cycle management startup Rivet raises $8.25M Series A funding to expand its healthcare price transparency platform. - The price transparency platform enables providers to give patients upfront pricing with the ability to pay prior to care via text while at the same time helping providers navigate the complex process that grants “in-network” status with insurance companies. Rivet, a Salt Lake City, UT-based modern healthcare revenue cycle management
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Simplee Integrates Patient Financial Engagement Platform with Cerner RCM Solution
- Simplee integrates their patient financial engagement platform with Cerner’s revenue cycle management portfolio and consumer technology. - The integration makes it simple, efficient for providers to transform medical billing and payments into consumer-friendly experience.Simplee and Cerner Corporation today announced a new relationship aimed at price transparency, convenient billing and personalized payments options for consumers. Healthcare organizations will soon be able to use this
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Walmart Health Taps Zotec Partners to Power Patient Financial Experience
- Walmart Health has formed an end-to-end RCM technology and services relationship with Zotec Partners to simplify the healthcare financial experience processes for its customers, including primary care, dental, vision, and mental health services. - Zotec’s technology will enable Walmart Health patients to schedule and register for appointments ahead of time, confirm or change insurance and demographic information, see estimated cost for services, receive text and email updates, efficiently
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