Introducing MedPrice Insight

HCIQ's Price Transparency Module

MedPrice Insight (MPI) transforms payer data into actionable insights, helping businesses in the self-insured ecosystem reduce costs, enhance insurance offerings, and optimize business planning.

In the self-insured ecosystem, having organized and reliable data is crucial for optimizing operations. MPI provides access to high-quality, vetted data, enabling businesses to enhance their operations in numerous ways: from developing plan guidelines and new insurance plans to benchmarking reimbursement rates, building searchable provider and payer directories, and conducting market research. With MPI, users can unlock significant business value from their data investment.

Key Features: 

• Access detailed pricing data obtained from payer Machine Readable Files (MRFs), providing insights such as:
  • Total provider cost: see the full cost charged by a provider for a service
  • Member out-of-pocket cost: identify the amount a patient has to pay, based on their specific insurance plan design
  • Cost comparison: compare costs for services across different physician specialties, facilities, geographic locations, and more. 
• Identify and compare payer reimbursement rates by geography, ZIP code, county, payer network, physician specialty, taxonomy, NPI, or EIN
• Gather detailed information on all in-network contracts and negotiated rates between payers and providers, down to the specific provider identified by their National Provider Identifier (NPI)

To learn more about extracting value from your payer data using MedPrice Insight, check out this blog post: Unlocking the Power of Data.

For more details about MedPrice Insight, download this product overview or contact a member of our team today.

About Health Cost IQ: Health Cost IQ (HCIQ) exists to help self-insured entities save money within their health plans. Leveraging its proprietary HealthAnalytIQ software platform, HCIQ can identify problematic utilization patterns and risk trends, forecast future healthcare costs, predict potentially high-use, high-cost members, and identify medical claims payment irregularities and pharmacy utilization inefficiencies. Armed with these insights, customers are empowered to make strategic changes in their health plan spending and reclaim an average of 20-30% annually. Visit healthcostiq.com for more information.