HealthSparq Unveils Solution for Improved Healthcare Cost and Quality Transparency Today at Forum

LAS VEGAS, Dec. 5, 2013 /PRNewswire/ -- Today at the Institute of Healthcare Consumerism (IHC) Forum West in Las Vegas, healthcare transparency solutions leader HealthSparq appeared in two sessions, leaving attendees with a deep understanding of the benefits of online shopping for healthcare services, including a checklist of what to look for in healthcare transparency solutions. HealthSparq also unveiled a new product designed to be offered to employers through the company's health plan customers nationwide.

A recent poll conducted by HealthSparq noted that 100 percent of health insurance executives feel pressured by employers to provide improved cost and quality healthcare transparency tools. With the new product HealthSparq will offer employees an online shopping tool that allows them to research and compare their healthcare options, such as treatments, providers, facilities and costs, before seeking care. This allows employees to be more informed decision makers about their healthcare costs without sacrificing quality healthcare, and can lead to decreasing healthcare costs. In fact, as a result of employees using HealthSparq's tools, nearly $50 million in potential healthcare cost savings was realized by the largest health plan in the Pacific Northwest.

Specifically, these are the tools HealthSparq will offer to employers/employees through their health plan clients nationwide:

• Single Search - An easy search feature lets employees research all their healthcare needs—from treatment options and provider choices to prices.
• Real Prices- Employees can find out how much they'll owe for care, based on their health plan's contracts, benefits and coverage.
• Patient Reviews- Reviews from patients who've been there provide insights into actual experiences with providers.
• Alerts and Dashboards- Employees receive personalized notifications about cost-saving opportunities based on shopping campaigns and their claims activities.
• Telehealth- A convenient and affordable alternative to non-emergency visits, the telehealth feature connects patients with doctors over the phone or through online video conferencing.

"IHC provides us a unique opportunity to unveil our new product for health plans and employers that will drive healthcare cost reduction and savings to the bottom line," said HealthSparq General Manager Torben Nielsen. "With reports indicating that 53 percent of consumers are uninformed about healthcare costs, it's apparent that this technology is being called for in the marketplace."

HealthSparq leverages over five years of experience in developing, testing and evolving detailed claims-based cost estimates that provide consumers reliable out-of-pocket costs; consumer reviews on medical provider experiences; and provider search capabilities to create a useful and dynamic online shopping experience. HealthSparq offers a platform that is familiar to navigate as employees have already become accustomed to shopping online for other goods and services. The result is that employees end up buying smarter and making more value-based decisions about their healthcare.

Additionally, HealthSparq was recently awarded IHC's sought after "Healthcare Consumerism Superstar" designation, recognizing the company's progressive thought leadership and innovation in the healthcare space.

To learn more about HealthSparq's offerings to employers, click here.

About HealthSparq
HealthSparq develops healthcare transparency solutions for health plans and self-insured employers. The HealthSparq platform leverages data from a variety of sources, including health insurance claims, linked together with community reviews and discussions to empower consumers to make informed decisions via online shopping for healthcare. HealthSparq is part of the Cambia Health Solutions family of companies and is located in Portland, Oregon. To learn more about HealthSparq, visit www.HealthSparq.com and follow @HealthSparq on Twitter. To request a HealthSparq demo, please send an email to [email protected] or call 855-SPARQ-IT (855-772-7748).

SOURCE HealthSparq

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