Solv Commits to Healthcare Price Transparency with ClearPrice Launch

SAN FRANCISCO, Feb. 18, 2022 /PRNewswire/ -- Solv, an app that delivers everyday healthcare on demand, today launched its ClearPrice initiative to address the lack of healthcare price transparency in the industry. The initiative reveals the cash-pay prices for common consumer healthcare services such as flu-shots, covid tests, x-rays, stitches, and in-office visits. Solv is also working with innovative convenient care providers across the US to share accurate, self-pay prices with consumers and make public, transparent prices the standard, not the exception. 

Nearly 1 in 3 consumers avoid the doctor when they're sick due to high healthcare costs. 50% of American consumers find healthcare costs and rules confusing. 44% have received a surprise medical bill, and 60% worry about getting one. Meanwhile, more Americans than ever (both uninsured and those with high-deductible healthcare plans) are choosing to self-pay for their healthcare to gain certainty and control over cost. Solv's research shows that nearly 40% of consumers searching for care on the Solv app would benefit from self-pay pricing. The opaque pricing of the American healthcare system is crushing US consumers, who struggle to access convenient, quality care. Even for insured patients, self-pay prices are often more affordable, but very few consumers are aware of this. While new and proposed legislation, such as the No Surprises Act for hospital bills and statewide laws enforcing prescription drug price transparency, attempts to address consumers' concerns, it does not yet cover every facet of healthcare. With the entire industry moving towards price transparency, providers should follow suit to meet the demands of a digital-first consumer, or risk losing patients.

The new Solv ClearPrice feature enables consumers to better understand how much their appointment will cost before booking. Price transparency eliminates the risk of surprise bills and minimizes unintended financial consequences. Consumers can also compare local costs with national averages to find the best care. The Solv ClearPrice Calculator enables consumers to see prices for everything from COVID-19 tests to laceration repair (stitches), x-rays, and flu shots in their city and surrounding areas. At launch, Solv has published prices for ten of the most common services across more than 40% of US urgent care locations and new services, prices, and locations will be added over time.

"Millions of Americans shoulder the burden of medical debt and avoid care because they can't afford it. This is unacceptable. We must do better," urged Solv Co-Founder and CEO, Heather Fernandez. "Starting today, with the Solv ClearPrice initiative, we're addressing this critical issue head-on. You wouldn't buy groceries or gas without knowing the price, and everyday healthcare should be no different. Healthcare consumers deserve control and certainty over their healthcare costs. The power to understand prices begins with the patient. This simply can't happen until price transparency is an industry-wide standard."

As a part of the ClearPrice Pledge, Solv has committed to publishing the self-pay price for common medical procedures and appointments to make healthcare price transparency the norm, rather than the exception. By partnering with providers across the country to gather data, pricing is now a core part of the Solv experience. Providers that agree to share self-pay pricing information  will receive a ClearPrice designation and marked with a badge on Solv, helping self-pay patients find and visit their practices. 

"Over the last decade we've seen more and more patients choose to self-pay for their healthcare because of the convenience and certainty it gives them over their medical spending," said Brian White, CEO of Urgent Care for Kids. "We're excited to work with Solv on the ClearPrice initiative -- every patient deserves to understand their healthcare costs and this is an incredible step to move the industry forward."

About Solv
Solv is an app that delivers everyday healthcare on demand. The app connects patients to a national network of convenient healthcare providers, empowering consumers to simplify their everyday healthcare needs. For providers, Solv's technology improves their quality of service, engagement with their patients, and the performance of their practice. For consumers, Solv offers same-day appointment availability, in-person and virtual visits, and cost transparency. Solv eliminates the stress of everyday healthcare by letting you know where you can go, when you'll be seen, and how much it will cost.

Download the Solv app or book online at solvhealth.com. Providers can learn more at solvhealth.com/for-providers

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SOURCE Solv

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