Marpai Introduces Provider Price Transparency Tool for Health Plan Members
February 22 2023 - 4:05PM
Business Wire
The new myMarpai Medical Shopping Tool protects
health plan members from overpaying for care by showing provider
medical service pricing before care is delivered.
Marpai, Inc. (“Marpai” or the “Company”) (Nasdaq: MRAI), the
AI-technology company transforming self-funded employer health
plans, introduces the myMarpai Medical Shopping Tool, which
displays medical services pricing charged by healthcare providers
connected to the employer’s health plan. All employer health plans
are now legally required to disclose provider pricing to be
compliant with the requirements of the Transparency in Coverage
Rule and The No Surprises Act legislation, which is designed to
protect people from surprise medical bills. The myMarpai Medical
Shopping Tool is powered by TALON, a healthcare technology company
delivering innovative solutions that ensure both compliance with
transparency mandates and long-term success in a participant-driven
healthcare ecosystem.
“Giving our health plan members the power to see how much a
service costs before they receive medical care is a turning point
in this country. With this tool, it’s easy to see provider prices,
compare prices between providers in a market, and identify savings
opportunities on demand. Informed by price and convenience upfront,
we believe people will make better choices and become smart
consumers of healthcare,” says Marpai CEO and co-founder, Edmundo
Gonzalez.
The myMarpai Medical Shopping Tool blends behavioral economics,
benefits expertise, and an unrivaled technology platform to solve
all price transparency needs for every user in the benefits
ecosystem, without disruption or distraction. Both a mobile and
web-based app, the intuitive digital tool provides immediate access
to three critical shopping comparisons—price, quality, and
convenience—making it easy for members to make, smart economical
decisions about their own healthcare.
“We are delighted to work with Marpai given their technology
leadership in self-funded health plan administration. Our shared
commitment to empowering health members with data and technology
will enable better choices for health plan members,” says Mark
Galvin, Co-Founder, President, and CEO of TALON.
The myMarpai Medical Shopping Tool is now available for all
employer health plans administered by Marpai. For more information,
visit www.marpaihealth.com.
About Marpai, Inc.
Marpai, Inc. (Nasdaq: MRAI) is an AI-powered technology company
creating better health plans with lower costs for employers that
directly pay for employee health benefits (self-funded employer
health plans). Marpai primarily competes in the $22 billion TPA
(Third Party Administrator) sector serving self-funded health plans
representing over $1 trillion in annual claims. The company commits
to delivering the healthiest member population with the greatest
cost efficiency for any health plan budget. In addition to standard
TPA services, including access to the Aetna and Cigna provider
networks, Marpai delivers exclusive services that help health plan
members access high quality care, stay on track with annual care,
act early and steer clear of inappropriate, overpriced, and
excessive care and medications.
For more information, visit www.marpaihealth.com.
About TALON
TALON’s mission is to educate, empower, and incentivize the
American healthcare consumer to meaningfully reduce costs and
create a healthier ecosystem. TALON products are designed to
fulfill the requirements of the Transparency in Coverage Rule and
No Surprises Act. TALON protects healthcare stakeholders from
overpaying for care while integrating into the Payer’s existing
architecture. Learn more at talonhealthtech.com.
Forward-Looking Statement Disclaimer
This press release contains forward-looking statements, as that
term is defined in the Private Litigation Reform Act of 1995, that
involve significant risks and uncertainties, including statements
regarding revenues, employee lives and cash. Forward-looking
statements can be identified through the use of words such as
"anticipates," "expects," "intends," "plans," "believes," "seeks,"
"estimates," "guidance," "may," "can," "could", "will",
"potential", "should," "goal" and variations of these words or
similar expressions. For example, the Company is using forward
looking statements when it discusses the expected benefits and
advantages of myMarpai Medical Shopping Tool and Marpai’s and
TALON’s shared commitment to empowering health members with data
and technology will enable better choices for health plan members.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect Marpai's current
expectations and speak only as of the date of this release. Actual
results may differ materially from Marpai's current expectations
depending upon a number of factors. These factors include, among
others, adverse changes in general economic and market conditions,
competitive factors including but not limited to pricing pressures
and new product introductions, uncertainty of customer acceptance
of new product offerings and market changes, risks associated with
managing the growth of the business. Except as required by law,
Marpai does not undertake any responsibility to revise or update
any forward-looking statements whether as a result of new
information, future events or otherwise. More detailed information
about Marpai and the risk factors that may affect the realization
of forward-looking statements is set forth in Marpai's filings with
the Securities and Exchange Commission (SEC). Investors and
security holders are urged to read these documents free of charge
on the SEC's web site at http://www.sec.gov.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230222005914/en/
Media: Danielle Belding-Smith for Marpai
dbsmith@marpaihealth.com (704) 562-8953
Investor Relations: Simon Li simonli@marpaihealth.com
(813) 822-3950
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