HLTH22: Turquoise Health Launches Price Transparency Data Solution
What You Should Know:
– Turquoise Health, an end-to-end healthcare pricing platform, today announced Simple Extracts, its first price transparency data product for specialty healthcare businesses. Simple Extracts allows anyone to request and receive precise searches from both the hospital and payer rates data warehouses.
– This new product eliminates the cost and technical barriers specialty businesses encounter by delivering data to customers directly within the Turquoise Health platform. There they can also store, access, and refresh their extracts whenever needed.
Enabling Customers to Directly Request and Receive Hospital and Payer Data Extracts in One Place
Turquoise Health launched in 2020 with a vision to simplify how healthcare gets paid. Using their products, organizations can create price transparency for patients while easing claims adjudication for themselves. Turquoise Health counts major revenue cycle partners, payers, and hospital systems as satisfied customers.
“Unfortunately, without substantial resources, not all organizations can realize the benefit of price transparency legislation. Simple Extracts is our solution to level the playing field of data access. This benefits companies on all sides and ultimately leads to more competitive offerings for patients,” said Chris Severn, CEO of Turquoise Health.
The recent Transparency in Coverage Final Rule (effective 7/1/22) mandated insurance payer rates data be made public in addition to the hospital rates already made public on 1/1/21. Together, they total nearly a petabyte of data. For small or specialty organizations, access to all of the data is unnecessary. Simple Extracts allows organizations to define a precise end goal and in return, receive the corresponding precise data at an approachable price point