PORTSMOUTH, N.H., June 28, 2022 /PRNewswire/ – TALON, an industry leader in providing groundbreaking healthcare technology solutions, has proclaimed July 1, 2022, as American "Healthcare Independence Day," citing the new regulations imposed by the "industry changing" No Surprises Act and Transparency in Coverage Rule.
According to a blog posted on TALON's website, the company says that July 1st marks an "incredible victory for the hundreds of millions of people who have been deprived, for far too long, of the real freedom to choose amongst healthcare providers who truly compete for their business—by offering fairer prices or better service."
Beginning on July 1, 2022, employers who offer health plans, but who have not posted their Machine-Readable Files (MRFs) to the internet can begin to be fined $100 per health plan member, per day, for failing to comply with this first component of the landmark Transparency in Coverage Rule. For a typical 500 employee company, that can mean annual fines of $35,000,000.
TALON Co-Founder, President, and CEO Mark Galvin says that, while the healthcare system has a long way to go to become a truly transparent, competitive marketplace, MRFs are a real and historic step in that direction. Galvin sees the No Surprises Act as one of the most important consumer protection measures regarding healthcare—ever.
"July 1st merits being dubbed "Healthcare Independence Day" because it heralds the start of our nation acknowledging that American healthcare consumers are not children. They are not wards of the state, nor are they 'lives' owned by health insurance companies," said Galvin. "American healthcare consumers deserve all the facts necessary to 'vote' with their feet and with their wallets as to who they select to pay for healthcare service. As of July 1, 2022, HEALTHCARE TYRANNY IS DEAD."
TALON has applied to have July 1st permanently recognized as "Healthcare Independence Day.'
TALON's mission is to educate, empower, and incentivize the American healthcare consumer to meaningfully reduce costs and create a healthier ecosystem. We've built the ultimate suite of software services designed to fulfill the requirements of the Transparency in Coverage Rule and No Surprises Act. Simply put, TALON protects healthcare stakeholders from overpaying for care while enabling seamless integration into the Payer's existing architecture, all without disruption or distraction. Our tools create free-market dynamics, starting with our ability to ensure full compliance with all mandates and extending through our consumer-driven MyMedicalShopper platform. Learn more at talonhealthtech.com.
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SOURCE MMS Analytics Inc. d/b/a TALON