Improve transparency in provider performance.
In May of 2003, researchers compared US health care spending to those of member nations of the Organization for Economic Cooperation and Development. They found that the US spent more than any other country, mainly due to higher prices. In order to reduce costs, transparency around the quality of care, prices of care, costs, and outcomes information must be improved. “Reference Pricing,” in which an employer or insurer provides a defined contribution toward the costs of a care service, is one way to improve transparency and reduce prices. AI can be deployed in this situation to quickly analyze inefficiencies and differences in cost, especially in the realm of value-based care.