Authors
To download the Impact Report, click here.
SAN DIEGO, CA, (April 18, 2023) — Turquoise Health, the price transparency platform for data, compliance, and contracting, announces today the release of its 2023 Price Transparency Impact Report. The report analyzes data reported by payers and hospitals and features a payer data assessment by region and service code. Turquoise examines the effects of legislation, the next steps needed to achieve industry-wide adoption and usefulness, and optimizing the patient experience.
This impact report follows the congressional testimony of Turquoise Health Co-Founder and CEO Chris Severn at the March 28th hearing “Lowering Unaffordable Costs: Examining Transparency and Competition in Healthcare.”
“Price transparency has passed a major inflection point, and it’s important for the public, government, and industry to recognize progress in order to invest in the opportunities at hand,” said Severn. “This report both highlights advancements in the usability of price transparency data and underscores the need for the government to evolve technical requirements and enforce compliance.”
The report examines the progress achieved since Turquoise Health’s first Impact Report was released in October of 2022 and identifies actionable steps for healthcare organizations to move toward a more price-transparent future.
The report also releases provisional transparency scores for all payer machine-readable files based on completeness, file size, and parsability.
Among the statistics disclosed in the report, Turquoise cites 183 payers publishing data as of March 2023 compared to just 68 payers in July 2022. The payer data now represents over 95% of commercially insured lives in the United States. Turquoise also notes over 84% of hospitals have posted pricing data as of Q1 in 2023, compared to just 65% in Q4 of 2022. For more information and to view the entire report, visit: https://turquoise.health/impact_reports
Related resources
Learn, listen, and watch the latest on price transparency.
Transparency in Coverage Final Rule (2026): What Changes for Payer Machine-Readable Files
Payers will report by network instead of plan, move from monthly to quarterly, and attest to their data. We expect files to be slimmed down, more organized, and easier to find online.
Prescription Drugs Rates Get A Mandated Due Date with Dec 2027 Enforcement
What this means for manufacturers ability to provide patients a personalized OOP cost for drugs
Transparency in Coverage Update Trims Down Payer MRFs & Brings Back the Rx File
CMS's first major TiC overhaul since 2022 simplifies payer files and sets a December 2027 enforcement date for the prescription drug file. Here's what it means for patients and the industry