A $3B Healthcare Payor Selects Amitech for Price Transparency Data and Intelligence
March 26, 2021 (ST. LOUIS) – Amitech Solutions, an award-winning healthcare data, analytics and automation consulting firm, is honored to announce a new partnership with a large midwestern payor. This payor turned to Amitech Solutions for our data expertise when trying to access multiple machine–readable files and formats of price transparency data published by hundreds of facilities in their market for hundreds of shoppable services.
The price of a procedure can range drastically within the same region depending on the negotiated discounts an insurance carrier contracted with each hospital. The Public Health Service Act requires hospitals to publish their payor-negotiated rates for at least 300 shoppable services, but the data is in widely varying file formats and is hard to consume. This payor sought to lower the total cost of care for their members by utilizing the published data. They wanted to gain competitive intelligence from the payor-specific negotiated charges publicly shared by the hospitals to negotiate better discounts with the hospitals.
Amitech’s Price Transparency Data Service provides easy access to consolidate and group this hard-to-find price transparency data published by hospitals in your market in a standard format. It provides payors with deeper insights into market-wide pricing variations, brings more equity into provider contracts, and reduces the cost of healthcare for all stakeholders. The data service offered by Amitech also affords comprehensive intelligence on pricing variations across hospitals, payers, and plans, giving organizations a crucial tool for controlling healthcare costs. Our solution works by first collecting publicly available pricing data from hospitals and facilities daily, then aggregating the data using a standard format. Lastly, it provides you with an output file and critical insights for payers to help you understand the trends and build response strategies.
“Amitech’s goal is to make healthcare better, I am very proud of the work our team is doing to help organize the data for this payor,” said Amitech Chief Strategy Officer Tim Branham. “Not only is this helping the customer, but it is ultimately helping the consumers to become more active and engaged in making buying decisions for cost-effective healthcare services.”
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Amitech is an award-winning data, analytics and automation healthcare consulting firm. At Amitech, we believe healthcare can and should be better. With a single-minded focus on value, we combine people, process, culture and technology to drive real and lasting change. We partner with our customers to deliver data, analytics and automation strategies and solutions to make healthcare more proactive, higher quality and less expensive for everyone.