CP Bill Hennessey, MD CEO Founder Pratter - How do Providers & Payers figure what to charge and pay?
Bill Hennessey, MD, had had enough of provider intransigence on pricing honestly their services. Medical providers struggle to figure the particular bundled price of their procedures, and employers and employees lose money from “discounts” off outrageous charges considered fictitious by most. Insurance companies keep payments for care opaque, unlike every other sector of our economy where the cost of goods and services sold is known before the time of purchase.
At Pratter (“price matters”), Dr. Hennessey leads the new benefits market for “reference-based pricing” (RBP), using 1.8 billion Medicare claims via Pratter’s federal contract, along with a proprietary 60 step process, to publish both the charges and the real prices paid for care, in both the public payer and carrier payer sectors. Success with properly leveraging RBP can bring affordability, comparison and the capitalism we all seek in healthcare.
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