Bridging to Better Population Health - Concord eBook

Working Together to Accelerate the Value Illuminated by Price Transparency

MARCUS THYGESON, MD, MPH Chief Health Officer at Bind Benefits | Twitter: @mthygeson

Price transparency is an extremely important strategy for improving the quality and aordability of care. Better care will result in better health at both the individual and population levels. Payers and providers can and should work together to accelerate the value created by price transparency. One key collaboration opportunity is information sharing. Payers have a lot of information about the costs of care and health outcomes that providers can use to improve their performance absolutely and relative to peers. Providers should systematically collect

information about the quality of care and health outcomes and share that information with payers, so payers can further align benefits with value. This collaboration creates a virtuous cycle – as provider performance improves, the price to the member for that provider's care decreases, more members seek care from that provider, costs go down, and care gets better. Innovative payers and providers are already working together to create this shared vision—a healthcare system focused on value, where provider financial success is tightly linked to health value and eiciency of the care they provide.

Collaboration creates a virtuous cycle—as provider performance improves, the price to the member for that provider's care decreases, more members seek care from that provider, costs go down, and care gets better."

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Marcus has served both sides of health care—as a treating medical doctor and health plan executive. Bind Benefits oers personalized health plans that provide choice, flexibility, and cost transparency.