Prime Health can offer a fully bundled or unbundled program for reference based pricing to self-insured employer groups who are looking for a cost containment strategy. The RBP strategy uses Medicare as its foundation in determining reimbursement. It’s widely used to promote healthcare service quality and value. This pricing transparency enables informed and comparative purchasing, resulting in better rates and superior value.
While self-funded employers cannot control medical facility charges, Prime Health Services can help an employer achieve a fair and reasonable reimbursement payment for health care services rendered. Coupled with the PRIMEpon (physician only network), our RBP model out-performs expectations from a standard RBP model.
With decades of experience in the self-insured markets in both commercial group health and workers’ compensation along with understanding the cost of medical, our system’s algorithms allow for reimbursement rates to defensible with little to no pushback.
Reference based pricing is a medical management strategy designed to reduce health care spending by the employer, while also engaging the health care consumer. A plan pays a fixed amount for a certain procedure and contracts with medical providers who agree to accept that fixed amount as full payment. Naturally, plan enrollees are driven to use in-network medical providers.
With reference based pricing, both plan members and medical providers take initiative in learning the true costs of health care services and avoid the substantial variations in pricing that can exist. Consumers are also encouraged to review pricing information in advance.