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SAN DIEGO, CA, (March 14, 2022) — Turquoise Health has launched their Price Transparency Scorecard, a beta search tool that allows customers to assess the health of a hospital’s Machine-Readable File (MRF) in conjunction with the disclosure required by the government’s Hospital Price Transparency Rule. The official launch is expected in the spring of 2022, but today, any user can begin searching.
“We recognized a need for an accessible source of truth on hospitals’ price transparency efforts. Through our Transparency Scorecard, we aim to highlight and celebrate highly transparent providers while identifying areas for improvement for others. In doing so, we can build momentum towards more accurate and complete data for patients.” said Chris Severn, Co-Founder and CEO of Turquoise Health.
Using over sixty pieces of information to evaluate a hospital's MRF, each scorecard offers a general score based on a 5-star rating. Scoring is algorithm-driven, with no preferences given to any hospital. This gives hospitals and patients a real-time view of a hospital MRF’s state of affairs. Hospitals can use this score as a proxy to assess compliance and compare their MRF attributes to hospitals of relative size and type. In line with the start-up’s dedication to transparency, anyone can view and download a shareable PDF scorecard free of charge.
In addition to powering the scorecard, MRF metadata is provided in tandem with Turquoise Health’s Clear Rates Data Platform. Hospitals that score 4- or 5-stars are eligible to become verified through the free Turquoise Verified Program. As the Turquoise platform grows, verified providers are given visibility to the customer base of payers, members of the press, academics, and self-insured employers looking to send members to transparency-first providers.
Users can access the scorecard here: turquoise.health/MRF_transparency_score
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