Vairate

The last few years have been a whirlwind in the world of price transparency. Our latest article sheds light on: • Key regulations and events • Role of innovative companies • Benefits of price transparency for the different stakeholders • Current challenges and limitations • Vision about the impact of price transparency going forward Give it a read! https://lnkd.in/gmuUKe79

Transparency data isn’t just a compliance box to tick. When approached correctly, it offers a wealth of insight that can enhance your organization’s efficiency and competitive standing. For a mid-sized health plan processing allowed claims of $10 billion, every 1% improvement in network unit cost efficiency translates to $100 million in savings spread across members, employers, and the health plan. The benefits are clear: • Lower out-of-pocket • Lower premiums • Increased customer satisfaction • Increased membership • Better spread of fixed costs • More profit How is your organization using transparency data to stay ahead? #HealthcareStrategy #DataDrivenDecisions #HealthcareEconomics

💡Reflecting on an insightful American Academy of Actuaries brief from 2022, we saw the potential of price transparency to reshape provider contract negotiations. Fast forward to 2024, and improved rates on high-cost outlier contracts and reductions in unit cost are still on the table. 🤔 By leveraging price transparency data, payers can redefine negotiations, especially in competitive markets. But putting all the pieces together is challenging without the right support. ❓Do you know the contracts where your organization is a high-cost outlier? And do you know your competitors' terms? #Healthcare #PriceTransparency #Innovation

Health plans today face a vital moment: the details that determine provider payment are now public, introducing a new level of competition. The challenge? Navigating and leveraging this data effectively. By mastering competitor transparency data, your organization can transform a regulatory requirement into a strategic advantage. The key lies in using this data to improve network performance, unit cost efficiency, and your competitive standing. Are you ready to turn transparency into your competitive edge? #HealthPlans #DataStrategy #HealthcareInnovation #CompetitiveAdvantage

Maternity is one of the most common carveouts in inpatient contracts. But the success payers have in negotiating favorable rates varies widely. This plot shows distributions of delivery MS-DRG rates across payers. These are the specs: • BUCA only • Hospitals only • Washington state • All delivery MS-DRGs (normal & cesarean) We see that Payer 4 was far more successful in negotiating favorable maternity rates. Stay tuned for the full study showing how they did it. In the meantime, care to take a guess? 💬 Leave your thoughts below. 👏 Bonus points for guesses. 🏆 Kudos if you can nail it!

🚀 Announcing the launch of our website: vairate.com! 🚀 🔓 We're unlocking the power of price transparency in healthcare negotiations. Our platform offers a comprehensive view of competitor contract terms to give you the upper hand. 🔍 Check out our savings calculator to see how improved negotiation outcomes can lead to substantial savings for payers, employers, and members. 💡 Ready to make informed decisions and improve network performance? Visit our website and book a demo to discover how Vairate can help you achieve better outcomes. #Healthcare #PriceTransparency #SaaS #Innovation #Vairate #HealthcareNegotiations

In my very early years I enjoyed growing up in a large wooded area of the northwest--some of the best features being old-growth trees and a giant ravine with a small creek running through it. Every chance we got, my friends and I would make it our day's mission to hold back the water. This would inevitably involve dirt, mud, nettle stings, water pouring over the top of our boots, and sometimes falling all the way in. But when you have a "noble" mission, you give it everything you've got. Healthcare costs are in some ways like that creek. They're always coming, always rising. And if no one is there to push back against the ever rising cost of care, higher costs will continue to prevail. There are many ways health plans have traditionally controlled costs: network management, case management, payment integrity, utilization management, benefit design, etc. Today, there's a new tool payers can use to fight back against the rising tide of healthcare costs. As a result of #pricetransparency, competitors' negotiated terms are now in the public domain. These terms aren't easy to get to, but (for the most part!) they're there. And for health plans that figure out how to extract these at scale, the opportunity to improve network performance by negotiating away competitive disadvantage is substantial. If you're struggling to put all the pieces together to make transparency data a competitive advantage, or if you're just spread too thin and don't have the time to untangle the mess, please message me. I'd be happy to speak with you about your transparency strategy and how we might be able to help.