How Price Transparency Data Can Help Negotiations

Once a year, a dreaded moment arrives – the discounted rate for your internet service or cable expires, and your bill triples.

Thus begins the process of:

  • Price shopping other providers
  • Negotiating a new rate with your existing provider…possibly using chatGPT?

The process can be painful and frustrating because, as the customer, you have no idea what algorithms or wizardry the service provider is tapping into. It’s hard to argue for more competitive rates when only half the parties involved have an idea of what competitive rates actually are.

Before price transparency rules required publicly-available negotiated rates, providers felt the same. Payers had repositories full of their own contracted rates for other providers in the same city, state, or even country, whereas providers only had access to their own rates.

Now, thanks to price transparency data parsed from machine-readable files (MRFs) from providers and payers, there’s a new normal developing. Imagine knowing how much everyone in your city paid for internet and how many Mbps* their rate includes. Or everyone in your state. Or everyone nationwide for your service provider. Suddenly, the playing field is more level for your annual negotiations.

* takes a minute to Google what mbps means...

Managed Care Organizations Directly Benefit from Price Transparency Data

Turquoise customers are channeling their inner Sunny D and unleashing the power of the sun…er, the MRF data in negotiations.

Turquoise has unleashed that data by launching Extracts, which gives users made-to-order subsets of data pulled directly from the larger MRFs. Extracts provide the most relevant data in an easily-digestible and secure download directly from the Turquoise platform.

Huntsville Hospital, an 800+ bed facility in Alabama, used Extracts to prepare for an upcoming major payer negotiation. The hospital found immediate insights within the price transparency data.

"I had phenomenal results. The extract guided us to scrap our previous negotiation strategy, which saved us a ton of time,” said Carolyn Fair, Managed Care Director.

This sentiment rings true across a range of different Turquoise customers who vary in size, service offerings, and level of care, all of whom have found value in Extracts.

The newly available data is the bedrock of contract negotiations

Our data is organized so anyone can request and receive precise searches from both the provider and payer rates. You can drill into specific payers, geographic regions, DRG or CPT code(s). And providers can request competitor pricing to use as a comparison tool.

Publicly-available rate data is becoming the new bedrock upon which negotiations are built. If you’re headed into a contract renegotiation, arm yourself with the data you need to stay competitive. That foundational difference can lead to a more seamless and cost-effective negotiation strategy and, ultimately, fair rates.

Ready to revamp your process around negotiated rates? Want to share your best technique for negotiating your internet bill? We’re all ears.