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Stethoscope and money Using a cost-up pricing approach, RBP optimizes provider payments for medical services based on publicly available cost, pricing and quality data. (Photo: Shutterstock)

U.S. health care suffers from perpetually increasing prices due to a lack of pricing transparency or provider accountability. This dysfunctional market is exacerbated by an estimated $1trillion in wasted medical expenses according to Gartner, a research company. Now, with a recession on the horizon, triggered by the global pandemic, employers and self-insured organizations are reassessing their benefit plans looking to eliminate the waste, while improving the purchasing process.

Related: Increased spending and COVID-19 impact 2020 benefits landscape

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