Health Analytics today announced that its consumer health cost
transparency tool - the Treatment
Cost Calculator - now reaches 20 million consumers through a
rapidly-growing, nationwide client-base of large employers and health
plans who offer the tool to their members.
The Treatment Cost Calculator is an online reference-based pricing tool
that provides accurate, real-time estimates of out-of-pocket costs that
are personalized to individual consumers, incorporating their specific
benefit designs, providers, and locations. In January, the tool was
enhanced to allow an employer or health plan to establish a reference
price for any covered service. Consumers can use this reference-based
pricing information to easily identify providers that offer the service
they need at a cost that is at or below the reference price.
"In today's consumer-directed health care landscape, where costs for the
same treatment ca vary significantly within the same market - some by
more than 100% - there is a growing demand for definitive, concrete data
on treatment cost," said Barbara Graovac, senior vice president and
general manager, Truven Health Analytics. "Consumers, health plans, and
providers need timely, accurate, and trusted information to make
critical healthcare decisions, and this tool is now enabling millions to
do just that."
In a recent survey of users, 80 percent said the Treatment Cost
Calculator's estimates helped them understand their out-of-pocket
financial responsibility, and 90 percent of the estimates were accurate
within 10 percent of the actual cost.
Part of the Truven Health suite of consumer health solutions, the
Treatment Cost Calculator is accessible to more than 20 million
individuals through their payer or provider. The consumer health
solutions are based on the deep healthcare data and analytic expertise
that powers the comprehensive suite of Truven Health enterprise decision
support tools and services. These solutions help customers reduce
healthcare costs, improve employee wellness and productivity, manage
quality, performance, and outcomes, and adapt successfully to healthcare
reform. Truven Health Analytics counts over 500 large employers and
health plans among its current customers.
About Truven Health Analytics
Health Analytics we are dedicated to delivering the answers our
clients need to improve healthcare quality and reduce costs. We are a
healthcare analytics company with unmatched data assets and advanced
analytic expertise that have served the global healthcare industry for
more than 30 years. These combine with our unique perspective from
across the entire healthcare industry to give hospitals, clinicians,
employers, health plans, government agencies, life sciences researchers,
and policymakers the confidence they need to make the right decisions,
right now, every time. With our healthcare-specific expertise and tools
for managing complex and disparate data, we understand how to implement
and integrate tailored analytics that drive improvement.
Truven Health Analytics owns some of the most trusted brands in
healthcare, such as Micromedex, ActionOI, 100 Top Hospitals, MarketScan,
and Advantage Suite. Truven Health has its principal offices in Ann
Arbor, Mich.; Chicago; and Denver. For more information, please visit www.truvenhealth.com.
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