Turquoise Health

Health Tech

Despite Price Transparency Laws, Americans Are Nowhere Near Able to Shop for Care. How Can This Change?

Most hospitals and payers have publicly posted their pricing information, but experts think that data will remain mostly useless for consumers for at least another five years. Now that the data is available, healthcare software companies must step in and build tools that are personalized and easy to use. That way, consumers can eventually use price transparency data to shop for care.

Health Tech

Healthcare still has a few years to go before price transparency data makes an impact, Turquoise Health CEO says

The healthcare industry is still building software to can handle its complex and vast pricing data, so it still has a few more years to go before price transparency information actually becomes useful. Once software development cycle matures, this data can infiltrate the way providers and payers negotiate contracts and affect the way patients shop for care.

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Health Tech

Flawed design is why hospitals are not complying with price transparency rules

Experts believe CMS’ price transparency rule is flawed in its design because the highly complex billing data it is asking hospitals to post is too confusing for consumers to understand. The complicated structure of the healthcare system — from care variance to deductibles to billing codes — means that producing an accurate price estimate is virtually impossible. To improve compliance, hospitals will need health tech companies to step in.