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  • Writer's pictureJoseph Tollison

Payerset and Snowflake: Powering Data Transparency in Healthcare

Updated: Oct 22, 2023


Payerset in the Snowflake Marketplace

Introduction:

We are thrilled to announce that Payerset, a pioneering solution for healthcare price transparency, is now officially listed on the Snowflake marketplace. This collaboration aims to make payer price datasets more accessible, fostering improved decision-making processes within the healthcare industry.


Access our sample datasets for free in the Snowflake Marketplace.


Payerset's Solution to an Industry Challenge:


Data transparency within the healthcare industry is more critical than ever. As we navigate an intricate landscape of costs and services, it is crucial to keep all stakeholders - consumers, health systems, and insurance companies alike - informed and empowered. Payerset simplifies the understanding of payer price datasets by provider, service, and payer, shining a light on a complex industry challenge.


The confidential nature of "in-network" pricing agreements between health insurers and providers has been a longstanding norm, upheld by confidentiality stipulations and antitrust rules. However, a groundbreaking shift is underway. The CMS's unprecedented initiative towards health plan price transparency mandates the public revelation of negotiated "in-network" prices shared between healthcare providers and health plans.


The introduction of new laws requiring insurance companies to publicly post all negotiated rates with providers for each billing code is a significant move towards data transparency. This shift opens up a myriad of opportunities and benefits for all players within the healthcare ecosystem.


Benefits of Data Transparency:


Fostering Competition: Data transparency levels the playing field for healthcare providers. It allows smaller hospitals and providers to negotiate better rates, fostering healthy competition that leads to better services, more affordable prices, and improved patient outcomes.


Promoting Accountability: Making pricing and billing information publicly available makes it easier to identify and address instances of significant price variation leading to a more efficient and ethical healthcare system.


Encouraging Innovation and Collaboration: As more information becomes available, stakeholders can identify trends, areas for improvement, and new opportunities for growth, fostering the development of innovative products and services.


Payerset is excited to be apart of this new wave of innovation.

Collaboration with Snowflake:

The partnership between Payerset and Snowflake elevates the importance and impact of data transparency within the healthcare industry. With Payerset's availability on Snowflake's platform, we're providing an accessible and efficient means for stakeholders to utilize and benefit from the price transparency data. This is a game-changer for insurance companies seeking to foster trust, health systems aiming to increase efficiency, and most importantly, consumers making critical healthcare decisions.


As we continue to enhance our solutions for an increasingly data-driven healthcare industry, we are excited to invite everyone to experience the benefits of our new collaboration with Snowflake.


Conclusion:

The future of healthcare lies in the effective use of transparent data. As we take a giant leap in this direction, we're thrilled to see the transformative impact Payerset will have on improving the healthcare experience for all.


We look forward to welcoming you on this journey toward a more open, equitable, and efficient healthcare system.


Check out Payerset on the Snowflake marketplace today!



For full datasets reach out to the Payerset team here: https://www.payerset.com/

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