Deerhold, a company that focuses on advanced healthcare data solutions to improve price transparency and meet regulatory requirements, has launched a new platform named PRIZM. This platform gathers and merges healthcare pricing data from machine-readable files with other important datasets, providing valuable insights for decision-makers in the healthcare industry.
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Jeff Gasser, the CEO and co-founder of Deerhold, said, “When hospital and payer MRFs first became available because of healthcare legislation, we saw an opportunity to create the next level of healthcare intelligence. Our main goal was to make sure MRF data could truly help the market. We’ve built the PRIZM platform with this goal in mind, creating separate solutions for different use cases and adding search features that make it easy for stakeholders to find what they need.”
The PRIZM platform turns healthcare transparency data into useful intelligence for a wide range of professionals in the industry. It currently offers three main solutions. PRIZM Rates provides pricing insights based on market data to help hospitals, accountable care organizations, multi-specialty practices, payers, and private equity firms understand price differences, improve their market competitiveness, and discover new revenue opportunities. PRIZM Networks helps stop-loss carriers, managing general underwriters, brokers, and commercial health plans by analyzing health plan networks using Medicare rates as a standard, helping identify cost-effective options and ensuring alignment with fiduciary responsibilities. PRIZM Shopping gives third-party administrators, commercial health plans, and self-funded employer groups a tool to follow transparency regulations by allowing members to estimate their cost-sharing for covered healthcare services.
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A fourth solution, currently being developed through a partnership with healthcare actuarial firm Windsor Strategy Partners, aims to provide advanced actuarial tools for network analysis. This upcoming feature is expected to increase confidence in choosing provider network discounts for stop-loss carriers and managing general underwriters when setting premium rates later this year.
Gasser added, “In an area where decision-making is often held back by inaccurate or outdated data, we’re removing unnecessary complexity to help stakeholders get the answers they need, faster and with more confidence.”
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