SAN DIEGO, CA, (November 15, 2022) — Turquoise Health, an end-to-end healthcare pricing platform, today announced Simple Extracts, its first price transparency data product for specialty healthcare businesses. Simple Extracts allows anyone to request and receive precise searches from both the hospital and payer rates data warehouses. This new product eliminates the cost and technical barriers specialty businesses encounter by delivering data to customers directly within the Turquoise Health platform. There they can also store, access, and refresh their extracts whenever needed.
“Unfortunately, without substantial resources, not all organizations can realize the benefit of price transparency legislation. Simple Extracts is our solution to level the playing field of data access. This benefits companies on all sides and ultimately leads to more competitive offerings for patients,” said Chris Severn, CEO of Turquoise Health.
The recent Transparency in Coverage Final Rule (effective 7/1/22) mandated insurance payer rates data be made public in addition to the hospital rates already made public on 1/1/21. Together, they total nearly a petabyte of data. For small or specialty organizations, access to all of the data is unnecessary. Simple Extracts allows organizations to define a precise end goal and in return, receive the corresponding precise data at an approachable price point
“With the help of Turquoise Health we were able to finalize our plan to open a sleep lab in Tampa. Without [the Turquoise] team, we would never have been able to obtain data and fee schedules from payers and providers quickly and reliably. Now we know the market and we can position ourselves competitively.” said Hector F. Bruno, Executive Director of Sleep Net PR.
“Despite the Transparency in Coverage ruling, we’ve found that accessing pricing information from payers has continued to be a challenge due to the sheer volume of data available,” said Dominic Weilbaecher, Vice President of Payer Relations for Babson Diagnostics. “Turquoise Health allowed us to unlock access to the data we needed to help better understand market dynamics as we prepare for commercial launch of our blood testing ecosystem.”
To begin requesting Simple Extracts, go to turquoise.health/simple_extracts