Check out the video and story below, a great bit of information from the company I work for, change:healthcare. We recently published our first quarterly HCTI – Healthcare Transparency Index – that shows you some of the trending data we are seeing from our massive data set from all across the US. The gist of it is this: you can shop for everything under the sun but healthcare. You can instantly lookup any Christmas present, car, can of soup, DVD… you name it. But in healthcare that has not been the case until now. change:healthcare works with employers and insurance carriers to show the true cost of medical services, dental services and prescriptions to employees before they have to spend the money. This is freakin’ awesome!
While the government claims to provide pricing for drugs and procedures, those listings only highlight what Medicare and Medicaid are willing to reimburse, not what those services actually cost. Hospitals, doctors and insurance companies provide patients with an itemized bill for care – but only AFTER the fact. The Healthcare Transparency Index, issued today by change:healthcare, is the first to provide healthcare consumers with ongoing trends data about actual healthcare costs – offering insight into critical opportunities for cost savings.
With more than 60 percent of employers in the U.S. expected to offer a consumer-directed health plan (CDHP) in 2011 as a way to curb costs, employees and their families will be increasingly accountable for “shopping” and paying for their healthcare – making it more critical than ever for them to understand the costs involved. To be issued quarterly, the inaugural Healthcare Transparency Index includes data derived from more than 1.3 million medical claims, totaling $220 million, from 90,000 individuals across all 50 states over a 12-month period. Key findings include:
Prescription drugs offer the highest opportunity for cost savings ($8 million across the HCTI data set), followed by dental, routine primary care physician office visits, psychotherapy, physical therapy and chiropractic. View Chart
Costs for commonly prescribed drugs can vary greatly. The following prescription drugs offer the greatest opportunities for cost savings for both brand names and generics – by simply switching pharmacies. In fact, an Abilify consumer could save up to nearly $2,500/yr by making a pharmacy change. View Chart
Wal-Mart, Target, Kroger, CVS and WalGreens top the list of pharmacy chains with the widest prescription cost discrepancies for both brand name and generic drugs. View Chart
Well, the news is official now. I left Mevio about 5 weeks ago to move back home to Nashville, TN and to start a new career…this time, in healthcare.
Through my early days of podcasting I was extremely fortunate to meet tons of great people. But in 2005 I was contacted by a gentleman by the name of Christopher Parks. At that time he was just a lowly podcaster to me (jab), host of a show called the BizCast (don’t look for it, you won’t find it. He pulled all the links down). Turns out he had a lot more to offer to the world than just a small town business podcast.
Christopher started the company I now work for as Product Manger, change:healthcare, out of frustration with the healthcare industry, and all the medical bills resulting from both of his parents unanticipated deaths within 1 year of each other. While this seems like a sad story (with no disrespect to Christopher or his family), it truly is a blessing to Americans everywhere who struggle with healthcare, related costs and confusion every single day of their lives. Because of this tragic event, Christopher was driven to make sure no one had to suffer through the confusion of paperwork, rejections and health jargon while dealing with sick and dying loved ones like he did.
You will no doubt hear more and more about this rising star, change:healthcare, in the coming months & years. We are growing explosively, releasing robust bill management tools and helping people save TONS OF MONEY on their healthcare costs every single day. But I will save the details for a later post.
For now, let me just say I am proud to be working with this company. They epitomize everything a company should strive to be: energetic, proud of their offering, revolutionary in their product and services, leaders in their field, and making a difference that is monumental to the growth and education of our nation as a whole.
You may not know it, but a change is coming. Soon we Americans are going to breathe a collective sigh of relief and wonder to ourselves, “what the hell were we thinking?”. The healthcare industry as we know it is seriously fucked up. It is not going to change over night, but with the help of one small company it just may be changed from this point on. Enter change:healthcare.
change:healthcare has one mission… To provide consumers with the tools, services and information they need to make the best healthcare decisions possible. Period.
Did you take a minute to read the words in the image above and grasp how awful this is?
“20% of every dollar in America is spent on healthcare.”
With the amount of money, time, energy, frustration and confusion that exists within the healthcare system, hardworking people like you and I have previously been left out of the conversation. We have been left to fend for ourselves and to find our own information in order to make intelligent decisions about how we spend our money in regard to health related expenses. Do yourself a favor: visit this page and learn about the change that IS coming. Starting March 3, 2008, you too will be able to change healthcare.