How Technology & Healthcare Cost Transparency Can Save You Money

April 14, 2016:

Did you know that the cost of some healthcare procedures can vary by as much as 500% within the same network? Different facilities and providers offer the exact same services at dramatically different prices due to a variety of factors. As the cost of healthcare continues to rise, one critical area that can improve overall employee satisfaction with their benefits is increased access to healthcare cost transparency. Consumers who analyze cost information can better understand their options, make wiser decisions and experience more satisfactory outcomes. In the past, this information was difficult to obtain which led to frustrations. However, new technology allows individuals to access healthcare cost information in new, easy to use ways. Below are just a few of the many ways your employees can utilize healthcare transparency through different technology platforms to help guide them to more intuitive and beneficial healthcare decisions.

Castlight Health: Castlight Health is one of the largest companies providing employees access to healthcare transparency information. They offer a consumer shopping experience that gives employees the ability to compare prices for a wide array of healthcare services and providers. Castlight also offers a simple breakdown of an individual’s benefits so they can better understand their out-of-pocket expenses allowing them to make the most informed decisions.

Medlio: Medlio offers an app that both serves as a digital insurance card and provides users with valuable benefits information including maps to the nearest pharmacies, hospitals and doctors, deductible and co-pay balances and other benefit information. Medlio also allows users to check in for appointments on the app and even pay for healthcare services directly through the app.

Healthcare Blue Book: Healthcare Blue Book was created with the idea of providing consumers with access to healthcare prices that allows them to compare costs and make informed decisions. Employees can search for a variety of healthcare procedures and services and see the varying costs within the area. Then, they can choose the best option for them with just a few simple clicks.

PokitDok: PokitDok users can search for a specific health service by either condition or specialty from their network of over 4 million providers. Once a match is found in someone’s network, they can click on the providers to view their prices and practice. PokitDok also allows users to request quotes for unlisted services and they will receive a quote within 48 hours after providing a budget and symptoms are disclosed.

GoodRx: With up to 45% of Americans struggling to pay for their prescription medication, GoodRx provides individuals with the opportunity to compare drugs expenses from multiple pharmacies to find the least expensive option. GoodRx also offers coupons on many drugs to help consumers save even more money on prescriptions.

Zest Health: Zest Health is healthcare technology company offering solutions designed to improve the way members experience healthcare. They offer two easy-to-use ways individuals can have their various healthcare needs met. The first is their 24/7 Smart Concierge Support which enables users to call in anytime and ask questions regarding their specific medical and benefit plan needs. The other option Zest Health offers is their integrated mobile app allowing people to access the information they need quickly with just the tap of a button. Zest Health’s solutions are fully integrated with each individual’s benefit plan offering customized solutions quickly and easily.

As you can see there are numerous options to help you and your employees to better understand healthcare costs and ultimately make more informed decisions. The list of companies and tools available to assist in improving healthcare cost transparency continues to increase. If you are interested in learning more about what healthcare cost transparency tools are available to you, how they can benefit your organization and what you need to get started, feel free to contact me and I will be happy to discuss your available options.

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2016-03-10_13-06-19  tj

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