Is reference-based pricing the future of thehealth care industry? There are too many fluctuating variables currently in play to sayfor sure, but one thing is certain: it has a lot of appeal. “To me, being a financial guy,it made sense,” says Mark Gitter, chief financial officer for SanAntonio-based GVTC Communications, which hopped on the RBPbandwagon in 2015. “I just want to pay fair market value for theservices I get.”
More companies are taking note of the RBP model, which has beenaround for years, but only recently has seen increased viabilityand appeal. “It wasn't until organizations decided they were goingto absorb financial and legal responsibility for thisbalance-billing piece that it made it a real option,” says JohnSimmons, founder and president of StrataBen, and a benefitsconsultant that helped connect GVTC with Advanced Medical PricingSolutions (AMPS), one of the first of a growing number of RBPservice providers. “Those intersected at the perfect time.”
It's too soon to say whether RBP is the future, but it's not toosoon to discuss whether it's the right move for your client.
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Emily Payne
Emily Payne is director, content analytics for ALM's Business & Finance Markets and former managing editor for BenefitsPRO. A Wisconsin native, she has spent the past decade writing and editing for various athletic and fitness publications. She holds an English degree and Business certificate from the University of Wisconsin.
