FORVIS now offers healthcare provider organizations and employer groups a way to effectively translate and summarize the most meaningful price transparency data published by payors to support internal goals. Depending on your organization’s needs, our professionals can utilize payor price transparency data and hospital machine-readable files to support rate benchmarking, strategic pricing, contract negotiations, managed care assessments, market entry assessments, and other initiatives.
The availability of hospital and payor pricing data necessitates an increased focus on defensible pricing, managed care contracts and negotiations, and the value delivered to consumers. The development of strategies to support these initiatives is critical.
While this data can provide organizations with key insights to better understand negotiated pricing relative to competitors, there have been significant challenges with the published files, making it difficult to extract meaningful information. Massive data files, lack of standardization, and incomplete files make it difficult for providers, employer groups, and patients to compare pricing despite the wealth of available information required to be published by federal law.
Understanding how to utilize the published data requires the ability to access price transparency files effectively and the knowledge and experience to wade through the noise to improve usability. FORVIS looks forward to providing your organization with new insights and strategies based on payor price transparency data.
If you would like to discuss your organization's needs, reach out to our Healthcare Strategy & Finance professionals.