Leverage Negotiated Pricing Data to Reduce the Cost of Healthcare
Amitech Solutions, an award-winning healthcare data, analytics and automation consulting firm, is honored to announce a new partnership with one of the largest payors in Nebraska. This payor came to Amitech after learning about their ability to efficiently solve the problem of widely varying file formats in hospital price transparency data. They wanted to increase pricing power and competitive positioning to lower the cost of healthcare to their members.
The Public Health Service Act requires hospitals and health systems to publish their payor-negotiated rates in a consumer-friendly website and downloadable files. But there was no requirement for the format and structure of the data, making it hard for payors to consume and generate insights. This is why the payor came to Amitech to solve their pricing transparency data challenges. Amitech’s price transparency solution works by collecting published data in an automated, cloud-based solution to download, clean, reformat, standardize, and report pricing data from multiple hospitals into a common, purpose-built data service.
Amitech’s price transparency data service provides customers with easy access to a standardized view of the diverse, complex, and hard-to-find price transparency data published by hospitals in each market. Additionally, it allows customers to gain more visibility into the pricing data, brings more equity into provider contracts, and helps reduce healthcare costs for all stakeholders.
“We have partnered with many healthcare payors on price transparency this year, and the number of hospitals who are posting meaningful pricing data continues to increase. We are so glad to be helping payors and providers create greater equity and efficiency in contracting,” said Amitech Vice President of Innovation Paul Boal.