TALON is a price transparency and healthcare consumerism platform that helps employers and their employees identify low-cost, high-quality providers.


What is TALON?

TALON is a price transparency in healthcare consumerism platform. Its primary aim is to allow employers and their employees to navigate to low-cost high-quality providers by unmasking the hidden variations in healthcare discount prices. As you can see with the slide I'm sharing with you now, there's radical price variation between in-network providers for the same exact procedures. In many cases, triple to quadruple-digit percentage variation. And within healthcare, as some of you may know, price and quality have very little correlation. So just because you're paying more, doesn't particularly mean that you're receiving higher quality care or are guaranteed a higher quality outcome. And that's really important to note, where we are looking to emulate a more natural consumer experience guided by price, quality, convenience and ultimately value.

How is TALON different?

The major difference with TALON that we've really looked to take advantage of is our ability to incent the healthcare consumer. So if we take a look at this next slide here, we notice our patented MyMedicalRewards Program that looks to assist employees in navigating to low-cost high-quality convenient in-network providers, and in doing so, earn a reward for that decision. And these rewards can be deposited into an employee's HRA, their HSA or as an e-gift card. So no matter what plan type the employee may be enrolled in, we can still drive that incentive and ensure that people are navigating to lower their out-of-pocket exposure and lower the total cost of claims to the plan.

Who's a good fit for TALON?

I hate to say everybody, but we sort of have legislation on our side with this one. So there was recently the transparency and coverage rule enacted at the end of, I guess it's in effect 1-1-2022, enforcement begins on July 1st, 2022. It's a three-phase rule. But importantly, within the second phase, there is a requirement that employers of all kinds provide to their employees, a cost comparison shopping tool that outlines the employee's out of pocket exposure or their cost-sharing amount and the negotiated rate, and TALON does exactly that with the added benefit of the rewards program to incent users to leverage low-cost high-quality providers.

Duration: 02:53

Posted: Thursday, January 13, 2022

Video tags: Under 50 EEs, 51 - 100 EEs, 101 - 250 EEs, 251 - 500 EEs, 501 - 1000 EEs, 1001 - 2500 EEs, 2501 - 5000 EEs, Over 5000 EEs