Virtual Benefits Administrator (VBA), a leading-edge healthcare software company, and TALON, a transformational healthcare technology company, announced their partnership to help insurers provide cost transparency and price comparison tools for health plan members.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210910005550/en/
VBA Cost Transparency powered by TALON is a comprehensive solution aimed at satisfying the Transparency in Coverage Rule going into effect next year. This new solution provides an online shopping and quality rating tool through VBAGateway, helping insurers satisfy their obligations under the new law. This shopping tool provides real-time deductible tracking and network provider out-of-pocket guidance to allow consumers to make educated healthcare decisions.
“Healthcare consumers have been making decisions with imperfect information for decades, and it’s time for that to change,” said Michael Clayton, CEO & President of VBA. “Together with TALON, whose technology was instrumental in the development of the price transparency legislation, we are proud to lead the charge in providing consumers with pricing and quality ratings to help them make informed choices about their care.”
VBA Cost Transparency also helps employers establish in and out of network negotiated rates to drive down costs alongside the member-facing shopping tool. Employers will also be able to offer rewards or incentives for health plan members using the service to encourage greater consumer literacy.
“VBA shares TALON’s mission of providing consumers with the right information to decide which provider is best for them,” said Mark Galvin, CEO of TALON. “It’s not enough to only offer a price database; consumers need to understand the reputation and quality of a provider to make a smart decision. VBA made it easy for members and their families to access the right information from within VBAGateway.”
To learn more about VBA Cost Transparency, our price transparency service powered by TALON, contact us today at vbasales@vbasoftware.com
About Virtual Benefits Administrator
Virtual Benefits Administrator (VBA) is a proactive, leading edge software design company providing a comprehensive suite of solutions to the insurance industry. VBA provides a secure, cloud-based common architecture for all lines of Benefit Administration. Our software development process focuses on continuous delivering solutions that address the requirements of the ever-changing healthcare industry, so our clients can confidently support their evolving business strategies and growth. Learn more at vbasoftware.com.
About TALON
TALON is driven to promoting and empowering healthcare consumerism through a set of tools and services that introduce free market dynamics in an otherwise fractured marketplace. TALON is preparing clients in all 50 states to comply with the Transparency in Coverage Rule and No Surprises Act.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210910005550/en/