Media Room

For Immediate Release

Truven Health Analytics Enhances Treatment Cost Calculator with Reference-Based Pricing

Control Costs by Matching High Value Providers with Consumer Requirements

Ann Arbor, MI, Jan. 28, 2014 — Truven Health Analytics announced today the addition of reference-based pricing to its Treatment Cost Calculator. This new capability responds to the growing need for consumers to predict the financial impact of their treatment decisions.

The Truven Health Treatment Cost Calculator is an online tool that provides accurate, real-time estimates of out-of-pocket costs that are personalized to the user’s benefits plan, deductible, choice of provider, and location. The Treatment Cost Calculator now allows an employer or health plan to establish a reference price for any covered service, allowing consumers to easily identify providers that offer the service they need at a cost that is at or below the reference price.

“Consumers are paying a greater share of their healthcare expenses, so they want and need tools to support their decisions. Healthcare payers are in the best position to offer transparency tools to help consumers understand the cost implications of provider and treatment choices, ” said Mike Boswood, president and chief executive officer at Truven Health Analytics. “We are committed to meeting the rising demand for price transparency with timely, accurate information that not only supports consumers but also drives more value for each healthcare dollar.”

With reference-based pricing, employers or their health plans can set a specific price ceiling that they will cover for a specific service or procedure based on either the member or the provider’s location. If an individual selects a provider whose fee is less than or equal to the reference price, their benefit will cover the cost in its entirety. However, if an individual selects a provider whose fee is greater than the reference price, their benefit will only cover the amount up to the reference price for the procedure. Any amount in excess of the reference price will be the responsibility of the individual.

The Treatment Cost Calculator is part of the Truven Health suite of consumer health solutions, accessible to more than 20 million individuals through their payer or provider.

To learn more about the Truven Health Treatment Cost Calculator, visit http://truvenhealth.com/your-healthcare-focus/health-plan/treatment-cost-calculator-health-plan

About Truven Health Analytics, part of the IBM Watson Health Business

Truven Health Analytics an IBM Company, delivers the answers that clients need to help them improve healthcare quality and access while reducing costs. We provide market-leading performance improvement solutions built on data integrity, advanced analytics, and domain expertise. For more than 40 years, our insights and solutions have been providing hospitals and clinicians, employers and health plans, state and federal government agencies, life sciences companies, and policymakers the facts they need to help them make confident decisions that directly affect the health and well-being of people and organizations in the U.S. and around the world.

Truven Health Analytics owns some of the most trusted brands in healthcare, such as MarketScan®, 100 Top Hospitals®, Advantage Suite®, Micromedex®, Simpler®, ActionOI® and JWA. Truven Health has its principal offices in Ann Arbor, Mich.; Chicago; and Denver. For more information, please visit http://truvenhealth.com.


Brian Erni
For Truven Health Analytics
J. Roderick, Inc. Public Relations