Amino Health Launches New Functionality to Make Health Care Pricing Easier and Consistent with Coverage Transparency | Jobs Reply


SAN FRANCISCO–(BUSINESS WIRE)–Amino Health, a leading digital healthcare management company, today announced new functionality that enables the healthcare industry to comply with the federal Transparency in Coverage (TIC) Rule that will take effect on January 1, 2023. Amino’s features go beyond compliance , the authorization of cost data content in a simple, intuitive navigation information designed to direct plan members to high-quality providers, facilities, and benefits that increase cost savings for plan sponsors.

“As advocates of transparency in health care, at Amino, we are proud to be among the first to launch Transparency in Coverage,” said Sarah Bimber, general counsel at Amino Health. “We have worked closely with external health care consultants, current regulators, and former regulators who are developing TIC regulations to ensure that Amino’s TIC operations meet regulatory requirements and highlight areas where we hope to see further evolution in the available legislation and regulations. ”

Published in 2020, the regulations require all group health plans and health insurance issuers to disclose rates and cost-sharing information through an online, self-service pricing tool. The tool must provide plan members with the ability to obtain an estimate of out-of-pocket costs for the various providers of goods and services represented by the 500 specified Current Procedural Terminology (CPT) payment codes covered by the plan as of the beginning of the initial plan year. January 1, 2023. Requirements extend to all covered items and services in 2024.

Amino has promoted price transparency for many years. In addition to participating in the TIC Act’s decision-making process, Amino advocated on behalf of consumer transparency regarding previous Hospital Price Transparency laws, and its leaders participated in industry and government-led working groups.

“Price transparency is not a new thing for us. Since our inception in 2013, the Amino platform has included cost estimates based on insights from millions of de-identified data points,” said David Vivero, CEO and founder of Amino Health. “The Amino Transparency in Coverage initiative is the latest innovation that enhances our ability to arm Americans with the information they need to make informed health care decisions for themselves and their loved ones.”

As the only healthcare platform approved by Medicare to develop quality measures that reflect diversity in the healthcare system, Amino has been recognized by price regulators as an industry leader in better patient outcomes.

The functionality of the new Amino platform fulfills the regulatory requirements of an affordable online tool. Health plan members will be able to search for covered items or services, either by name or by CPT code. Results include cost information specific to the member’s health plan and the selected entity or provider, as well as:

  • Historically negotiated in-network and out-of-network rates

  • Deductible balance

  • Copay obligation

  • Mutual insurance

  • Total out-of-pocket costs are estimated

Amino designed these new features with the belief that transparent pricing tools will improve consumer decisions when members use them. Originally a B2C product, Amino Health has spent years developing a highly engaging product with an intuitive user experience. With new pricing data as part of that transaction, the Amino platform will guide program members across sectors, industries, and organizational types to the highest-quality, cost-effective corners of their networks.

“When we created the TIC, we expected that insurance data would be large, and that private companies and researchers would step in for deep analysis and data generation,” said Eric Hargan, former deputy secretary of the Department of Health and Human Services. (HHS) and a transparent pricing consultant at Amino Health. “Having helped create the Transparency in Coverage Rule, I couldn’t think of a better example of a company taking our vision and implementing it.”

To get started with Amino or learn more, visit www.amino.com.

About Amino Health

Amino Health, the leading data-driven health care management platform, connects people with high-quality, cost-effective providers and benefit plans in context across the health care ecosystem. With more than 26B healthcare claims used to inform our actionable healthcare recommendations, Amino Health reduces the use of wasteful claims, streamlines the care pathway, increases the quality of care, and improves care outcomes for plan sponsors and members. To learn more, visit amino.com.



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