The Power of Artificial Intelligence In Health Care Financing
AI is changing the world as we know it. For us we’re using it to lift the codes and prices from the medical bills and repricing it. This is much cheaper than owning/leasing claim adjudication programs and the human capital needed to operate these organizations (TPAs). AI allows you to take a picture of your bill and be done with it. The same transformation happened with buggy whip makers over 100 years ago. The automobile (ai) replaced how things used to work. That moment is now in the benefits industry. Next year or two it will be a lot smaller, cheaper, and less complicated” – Leon Wisniewski
“Our vision is to empower the stakeholders of healthcare (doctors, hospitals, and patients) to discover the true cost of care so that they can be the custodians of their own future.”
Hospital Rates are now Public
Health Cost Labs informs you of lower cost alternatives using billions of rates grouped by:
—> MSA Regions
—> Carriers
—> Hospitals
—> Products
We offer Rates for use by:
—> Employers
—> Health Plans
—> Hospitals & Doctors
—> Consumers
—> Benefit Companies
We can support all segments with analytics, benchmark and cost savings opportunities:
—> Benchmarking: Medicare & Peer review
—> Network Optimization and Cost Savings
Our Mission
All industries compete on price and efficiency, but the healthcare industry exists to maximize billings and revenue. They do not compete on price and efficiency. Knowing prices creates competition. Competition creates efficiencies, supply chain management, and opportunities for new businesses to enter the marketplace to provide lower cost alternatives. Prices are determined by supply and demand. That is how capitalism works. The basic principles of economics do not currently exist in healthcare making it one of the most costly and inefficient industries in the world.
Our vision is to empower the stakeholders of healthcare (doctors, hospitals, and patients) to discover the true cost of care so that they can be the custodians of their own future. To be sure, healthcare is complicated and needs experts to guide people to best health and financial outcomes. We want to empower all players in the healthcare ecosystem with knowledge to be successful. When all stakeholders are working in concert to keep costs under control, money will be redistributed back into businesses’ and families’ budgets. This will have a profound impact on growing a healthy economy, as well as, helping people achieve economic freedom. We wish everybody health, peace, and prosperity.
Use of Rates
Knowledge of rates changes the playbook within Healthcare. Purchasers and hospitals have to react or respond to competitors’ prices to keep or grow market share. Are you in medical debt? Use our reports to identify appropriate price points for treatment and negotiate a settlement. Employers have to supply a cost-effective benefit plan or lose their talented employees to other companies. Hospitals can now make a decision to price their treatments competitively using cash and jettison the administration cost of dealing with prior-auths and claim denials.
Below are a few of the many use cases for the rates for different audiences.
Employer Groups – More>
Health Insurance Companies – More>
Benefit Companies – More>
Doctors and Hospitals – More>
Data for Members – More>
The Uniform Commercial Code (UCC) is a comprehensive set of laws governing all commercial transactions in the United States. Within these laws is a law called Open Price Term. An open price term is a contract for sale in which nothing is said as to price, the price is to be agreed later by parties, the price is to be fixed by a market standard or by a third party, or the price is to be fixed in good faith by the seller or buyer.
*This is not legal advice. Consult your attorney if the hospital does not accept your price for payment in full.
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“This information is provided free of charge to help you with your medical bills. If your intent is to use this data commercially please buy a subscription from us. Thank you.”
