San Diego-based Turquoise Health and San Francisco-based Komodo Health are partnering to create a platform that will allow patients to understand the full cost of healthcare services and help streamline payer-provider contracts.
"Our collaboration will help democratize access to valuable cost information that has historically been too difficult to understand and interpret at scale," Aswin Chandrakantan, MD, chief medical officer at Komodo Health, said in a July 12 news release.
A key piece of the platform will be patient journey data from Komodo that Turquoise will infuse with its own payment data to create a scalable software solution.
The partnership comes on the heels of a CMS rule that went into effect July 1, which requires payers to publish the cost of nearly every healthcare service they've negotiated with providers through machine-readable files.
The current problem is that much of the data is too large or confusing for patients to understand, so researchers and developers must come up with tools to provide better access to the information.