Like the Kelly Blue Book does for vehicle pricing, RefMed helps patients, doctors, insurance companies and all stakeholders quickly find price accuracy across the American health industry
LAKELAND, Fla., March 28, 2023 /PRNewswire-PRWeb/ -- RefMed, the first provider of market-referenced pricing for the Healthcare Industry, is launching three products delivering pricing transparency to physicians, insurance companies, bill review companies, government agencies, and patients.
Physician Price Intel delivers accurate, unbiased, and timely market-based pricing for physicians regardless of their specialty. Using proprietary algorithms and trillions of records, RefMed cross-references pricing for all procedures with other providers in the same geo-code.
TrueUCR is the first usual and customary fee schedule based on actual contract amounts from public and private payers. RefMed has accumulated trillions of records and produced a range of acceptable prices for every procedure code in every part of the country.
TrueFee is an innovative market-based approach to creating medical fee schedules for government agencies.
"Our mission is simple, improve healthcare financial outcomes by providing the most accurate, unbiased, and timely pricing information to providers, payers, and patients," said Todd McDaniel, RefMed President & CEO. "We believe a market works best when accurate pricing is transparent to everyone."
By compiling, aggregating, and analyzing actual contracted market rate data across all procedures by zip code, RefMed will be the healthcare industry's most accurate and meaningful database for Payors, Providers and Consumers of medical services in the United States.
"A lack of transparency is a primary contributor to increases in healthcare pricing across the board," said McDaniel. "Using our proprietary data, we can provide a truly 'Market Referenced' pricing solution that will address the issues facing the healthcare industry today around accuracy, consistency and overall fairness of actual costs associated with medical spend; specifically addressing costs by treatment code, by geo-code, and by provider, all based on the actual contract rate data. Think of it as the Kelly Blue Book for healthcare."
RefMed Benefits to Customers:
- Allows physicians and hospitals to negotiate contract rates with insurance companies.
- Allows third party administrators to negotiate contracts and fees for specific out of network services.
- Allows insurance companies and bill review companies to determine an appropriate reimbursement amount when no contract is in place.
- Allows federal and state agencies to set fee schedules for government paid services.
- Allows patients to shop for future services or negotiate prices for uncovered or out of network services.
- Allows economists and research institutions to track the cost of healthcare over time by region, type of service, and payment types.
For more information about RefMed and its industry changing products and services visit https://refmed.com/
About RefMed: RefMed is an independent company with no affiliation to any insurance company or physician association. We are a team of healthcare consultants, data scientists, and developers with many years of experience in both public and private payer insurance business. We have experienced the frustration of usual and customary pricing that is neither usual or customary and we wanted to find a better way.
Media Contact: Colin Trethewey, PRmediaNow Communications: [email protected]
Media Contact
Colin Trethewey, PRmediaNow Communications, 813.480.1354, [email protected]
SOURCE RefMed
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