Price Transparency: Lessons from a Large Healthcare Payer
As employers seek to limit exposure to rate increases from their health plans, patients face increased deductibles and cost-sharing. This pattern has increased demand for price transparency across the country, and recent federal mandates have required health insurance payers and providers to post medical services pricing to members to protect them from surprise out-of-network care costs.
Optimity believes that for both providers and payers, properly planning for and implementing price transparency initiatives offers an opportunity not only to satisfy these regulations but also improve the patient experience, satisfaction and loyalty.
In our Orange Paper, we offer a detailed look at transparency in coverage requirements for payers and the wide-reaching impacts across payers’ lines of business.