Starting on July 1st, 2022, the CMS Transparency in Coverage Final Rule mandates health insurers and group health plans, including self-funded clients, to publish and update monthly pricing data in "machine-readable formats" for covered items and services. This includes in-network negotiated payment rates and historical out-of-network allowed amounts.
The newly accessible data is immense, potentially surpassing the size of the Library of Congress. The total size of the data published by the payers is estimated to be close to 1 Petabyte (1,024 TB, or 1,048,576 GB).
Discover PayerAnalytics: a leading-edge SaaS platform designed to distill actionable insights and benchmarks from complex reimbursement rate data. PayerAnalytics empowers both providers and plans for strategic decision-making.
Visualize a scenario where your rates could be optimized: If you charge $500 for a clinical service while a nearby competitor charges $750, PayerAnalytics enables you to identify and then renegotiate your rates, ensuring you're not undervaluing your services.
Gain unrivaled insights into negotiated rates across various providers and plans, helping you understand your market position and identify revenue opportunities.
Adapt our data to fit your processes effortlessly, enhancing efficiency and productivity.
Navigate complex data landscapes with robust analytical tools for informed strategies.
Quickly navigate massive MRFs to gather essential insights promptly.
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Contact us to schedule a demo and see how PayerAnalytics can work for you.