WTW launched a brand new resolution on Tuesday aimed toward offering higher healthcare pricing transparency for employers.

WTW is a world consulting, brokerage and options firm. The brand new resolution known as the Well being Transparency Optimizer and permits employers to guage healthcare prices together with high quality and utilization knowledge. The answer is designed to be used by “all employers trying to enhance effectivity in healthcare,” mentioned Drew Hodgson, head of monetary gross sales and commercialization at WTW.

It would present entry to negotiated healthcare worth data for hospital, outpatient {and professional} healthcare suppliers, in addition to entry to high quality knowledge throughout totally different medical classes.

Moreover, the Well being Transparency Optimizer will present finances estimates for each main payer community and supply perception into facilities of excellence and different networks in key employer markets. Lastly, it’ll present evaluation of social, financial, medical, environmental and local weather knowledge that affect the worker inhabitants within the communities during which they reside.

WTW consultants will work with employers to overview and focus on the outcomes, and can then help employers with subsequent steps primarily based on the outcomes, whether or not that’s selecting a brand new provider companion, designing a selected supplier community for his or her worker inhabitants, or getting into into direct contracts with suppliers.

Hodgson mentioned the launch of the Well being Transparency Optimizer is in response to a long-standing hole in healthcare.

“Transparency has been wanted in healthcare for years. … An increasing number of clients are demanding transparency and ROI on options and the brand new Transparency in Protection necessities have enabled us to attain that,” mentioned Hodgson. The rule of transparency in protection requires well being plans to reveal details about pricing and well being care value sharing.

Employers should purchase the Well being Transparency Optimizer independently or achieve entry by an present consulting relationship with WTW.

The launch of the Well being Transparency Optimizer comes at a time when employers are confronted with skyrocketing healthcare prices. In accordance with the Enterprise Group on Well being, employers predict a median enhance in healthcare prices of 9% by 2026. WTW hopes to assist employers management these prices with its new resolution.

“Our purpose is to cut back prices for employers and their workers by shining a light-weight on the associated fee and high quality of well being look after employer-sponsored well being plans,” Hodgson mentioned. “This resolution has the potential to essentially change the best way healthcare is used and delivered by directing individuals to probably the most environment friendly factors of care.”

He added that WTW expects so as to add extra companies and deeper analytics for employers in 2026.

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