Impact of Price Transparency on Costs and Competition in the Healthcare Ecosystem with Marcus Dorstel Turquoise Health

Marcus Dorstel Head of Operations at Turquoise Health, is part of a team of engineers and healthcare experts focused on the price transparency data that started coming out in 2021 on the hospital side and in July 2022 on the payer side. These prices were previously kept secret and in data silos so that the full picture of costs was not possible. Their aim is to support the No Surprises Act, which requires providers to create a good faith estimate of all medical services ahead of actual service.  Marcus explains, "At Turquoise Health, ultimately, we want to simplify the way healthcare gets paid. I think we're all keenly aware of the complexities of the healthcare space, a lot of that around the payment structure and even just what the price of healthcare is. And so, we're a startup focused on price transparency in the healthcare space and helping all parties within the healthcare ecosystem really simplify those payments and bring more transparency into healthcare." "Hospitals are certainly taking a look at their prices compared to their competitors. There's a chance to see if you're contracting with a major national carrier and what they're paying your competitor down the street. We're already seeing that this data is being used by both hospitals and also by the payers in these contract negotiations." @TurquoiseHC #TurquoiseHealth #PriceTransparency #Healthcare #NoSurprisesAct #GoodFaithEstimate #Hospitals #HealthcareCosts #MedicalBills turquoise.health Download the transcript here