Healthcare Price Transparency Tool
CompassConnect is a user-friendly healthcare transparency solution allowing members of the self-funded community to obtain quality healthcare at prices they can afford. With convenient, timely access to essential information through both your desktop and mobile app, it’s easier than ever to optimize plan designs, increase participation rates, and lower benefit expenses.
To meet modern demands, CompassConnect has expanded into an enterprise technology stack solution, covering:
- Provider Transparency – Find local providers by specialty and service, comparing cost and outcome.
- Price Transparency – Accessible data informs decisions on how to spend health care dollars.
How Can CompassConnect Increase Healthcare Price Transparency?
The CompassConnect healthcare price transparency solution is a gateway for patient advocacy, helping employees locate the services they need based on quality outcome and pricing metrics that have long been hidden from plain view.
CompassConnect uses aggregated proprietary data and multiple third-party sources to deliver cost averages for specific procedures on a provider-by-provider basis with 99% accuracy. Data is collected throughout the patient experience that can be analyzed, reported, and translated into better plan designs.
With metric-based plan optimization:
- Find out if in-network/participating providers are delivering on their promises
- Activate member-specific care metrics, including utilization, provider selection, and costs
- Reduce waste and discover value with insights from highest-utilization employees
- Navigate intelligence data to optimize healthcare plan design
- Serve as a member resource for plan details and care history
- Receive advanced support for health plan administration
- Tap member consumerism to deliver healthier outcomes
Going above and beyond published Medicare and Medicaid rates, Price Transparency provides a comprehensive self-service portal where members shop for healthcare using 500+ CMS-defined Shoppable Services and Items.
With Pricing Transparency:
- Search all released pricing information, as mandated by the 2020 Transparency Coverage Rule
- Easily compile all price, cost-sharing, and out-of-pocket expense information for beneficiaries
- Expand affordable options and provider networks, opening the plan to more enrollees
- See de-identified minimum and maximum negotiated charges, as well as discounted cash prices
- Minimize surprise out-of-pocket bills and explore options for quality cost-conscious care