Understanding market and consumer behaviors will require a focus on data as price transparency
becomes a reality.
That transition leaves the question: What technologies are needed for success with price
IBM Watson Health offers solutions that provide data-driven insights that can help hospitals and
health systems hold financial ground and better address their market.
Meeting the requirements
IBM Watson Health offers a comprehensive solution that can help hospitals and health systems quickly comply with the price transparency rule. IBM Price Transparency not only meets both the web-based tool and machine-readable file requirements, but includes many other features to help make shopping for healthcare a snap for patients.
Explore IBM Price Transparency
Building a market-specific strategy
IBM Watson Health specialized consulting services
are supported by robust analytics that can be applied to help hospitals and health systems prepare
for price transparency. Our healthcare experts can help hospitals and health systems meet CMS
requirements and deadlines by implementing consumer-friendly price estimator tools, making data- and
strategy-based recommendations on which shoppable services to choose, and highlighting where
opportunities and threats may exist. We can also model potential revenue impacts of the various
market shifts that may result from price transparency.
In addition to helping you meet price transparency requirements through data-driven,
consumer-centered strategies, IBM Watson Health consulting
services can help you:
Reach sustainable clinical improvement through a multidisciplinary approach and demonstrated,
Transform your strategy by balancing your financial bottom line with operational quality.
Maximize your value with performance improvement programming, designed to help you overcome
barriers standing in the way of greater efficiency.
Explore healthcare consulting
services from IBM Watson Health
Understanding your local consumers
Our consultants use publicly-available consumer data to help healthcare providers better understand
and anticipate healthcare needs and buying habits within their communities.
Localized, market-specific data can help ensure that your strategic plans align with what's going on
in your market.
Engaging patients with cost information
Treatment Cost Calculator (TCC) is an online solution designed to engage patients with pricing
information and support a health organization’s need to increase price transparency.
Initially created for payers and newly adapted for providers, the solution can
help hospitals and health systems meet price transparency requirements by:
Supporting better decision-making by allowing consumers to research and plan for healthcare
Estimating an individual’s out-of-pocket costs
- Basing estimates on intelligent methodology and a comprehensive data set
Helping to increase the health literacy of your consumers and encourage more interaction with
Providing convenience and accuracy
Helping to meet CMS’ requirements for consumer-friendly, easily-accessible pricing information
(machine-readable file formats also available)
patients with IBM Treatment Cost Calculator
In short, teaming with Watson Health can help you maximize your opportunity for success as you
comply with the new price transparency rule.