ATLANTA—Trella Health, a provider of data and productivity solutions for home medical equipment (HME) and infusion organizations, launched a new commercial payer rates data solution, which aims to give organizations insights into commercial payer rates across the United States.
“Trella Health’s commercial payer rates solution provides HME and infusion organizations with valuable insights to navigate the complexities of payer negotiations,” said Kathy Ford, chief product officer at Trella Health. “By converting large volumes of data into actionable information, the solution enables organizations to make informed decisions that supports strategic growth and improves operational efficiency.”
The company said its dataset intends to offer HME and infusion organizations visibility into the rates of over 10,000 insurance plans that cover over 3.5 million health care providers and organizations. Additionally, the data seeks to provide a better understanding of market and competitive rates, negotiate stronger contracts, uncover new payer opportunities and optimize revenue potential.
“Despite the public availability of this information, the way in which this data is published and the sheer size of the files makes it extremely difficult to access and aggregate,” said Tyler Rardin, general manager of HME, infusion and specialty pharmacy at Trella Health. “Our commercial negotiated payer rates data simplifies this process, presenting insights in a digestible format, empowering our customers to analyze and leverage the data for strategic growth.”
Trella Health’s payer rates solution aims to deliver real-world applications that organizations can use to create a tangible impact. The solution’s main uses include:
- Negotiating Competitive Rates: Identify payers with pricing gaps and compare rates with competitors in similar categories.
- Identifying New Contract Opportunities: Discover payers in one’s state or market offering favorable rates for one’s services.
- Broadening Product Offerings: Find additional products that complement one’s existing contracts.
- Expanding into New Markets: Assess rates and competition in new regions to inform expansion.
- Evaluating Acquisition Opportunities: Evaluate potential acquisition targets based on existing rates and competitive positioning.
The enforcement of the 2020 Health Plan Price Transparency Act—which began in January of this year—requires payers to provide pricing for all covered items, services and drugs in machine-readable files that are updated monthly. However, the company said the format and volume of these files can make extracting actionable insights challenging without having significant time and resources to do so.
