N.H. cost-cutting programs point to $3.7m in health savings
Firm says transparency, incentives help reduce costs
Companion programs designed to help reduce health care costs by promoting and providing transparency for consumers say they saved New Hampshire residents more than $3.7 million in 2013.
Together, Bedford-based Compass Healthcare Advisers’ Compass SmartShopper and Compass ChoiceRewards program give users cost-effective choices in health care, said Rob Graybill, CEO of Compass.
“If your doctor tells you that you need an MRI for your knee, the same procedure done by the same radiologist may cost more than $2,000 at one facility and cost $750 in another facility five miles away. That is the same procedure done by the same doctor all in the same area, but with big price differences," he said.
Along with providing savings to its members, ChoiceRewards helped members earn over $400,000 in rewards that go to consumers who choose the most cost-effective providers and procedures.
Nick Vailas, a former New Hampshire health and human services commissioner, is co-founder of Compass.