WHY TRANSPARENCY IN COVERAGE ISN'T
ENOUGH TO REVOLUTIONIZE
HEALTHCARE ECONOMICS
On October 29, 2020 the
Department of Treasury, the
Department of Labor, and the
Department of Health and Human
Services issued the final
Transparency in Coverage Rule.
The rule, based on provisions of
the Affordable Care Act, means
that 212 million consumers will
be given access to the prices of
virtually every test and
procedure.
This is a massive change in
health care that requires
employers to arm consumers
with access to comprehensive,
transparent, easily accessible
competitive pricing options.
We at TALON, believe the
change should be eagerly
anticipated by companies
because it promises to
dramatically reduce health
care expenditures.
That's because insured health care
consumers have been taught not to
think that their money is actually
being spent when they visit the
doctor for a procedure or visit a
laboratory for a blood test.
One of these is to incentivize
insured individuals to select lower-
priced options by sharing the
savings achieved directly with
them-literally giving them some of
the money they save.
Another way to motivate
consumers is for them to
opt for high deductible
health insurance plans.
The savings realized are then
available to fund triple-tax-
advantaged companion Health
Saving Accounts, thus reducing
over-insurance while assuring
funds are available to cover
unexpected medical events.
With the tools headed their way
by law on June 1, consumers
will be able to manage these
out-of-pocket health care
expenses much more
effectively.
TALON has demonstrated that its
MyMedicalShopper app, featuring state-of-the
art functionality for price transparency, along
with automated rewards for employees who
choose high quality, but lower-cost health
care, can save companies very significant
percentages of their costs for healthcare.
Contact Us At:
talonhealthtech.com
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TALON is dedicated to building an efficient healthcare marketplace. TALON's software solution to Transparency in Coverage delivers unique, highly-effective, automated consumer reward features.
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WHY TRANSPARENCY IN COVERAGE ISN'T ENOUGH TO REVOLUTIONIZE HEALTHCARE ECONOMICS
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