Questions & Answers
Answers to your most frequently asked questions.
Payers are mandated by law to publish all negotiated rates as part of the Transparency in Coverage (TiC) Rule that was passed in 2020 and went into enforcement in July of 2022.
We ingest the data that is published in the Machine Readable Files (MRFs) that are required to be updated monthly by payers in our HexIQ data science platform. Through the HexIQ Platform, we make it possible for our clients to download the negotiated rate data in Excel-friendly CSV files so they can be used as a high-quality input for contract negotiation, Revenue Cycle Management (RCM) processes, and prospecting / ROI calculation tools for healthcare-focused sales teams.
Our dataset stands out due to its completeness and availability of monthly updates. Unlike other vendors, we provide comprehensive negotiated rate data from all major payers, enabling a broader and more detailed analysis of market trends. This level of detail allows you to perform lateral analyses across different payers, uncovering insights that are not possible with incomplete datasets.
The HexIQ Platform is incredibly easy to use, with helpful tools like benchmark analysis, relationship networks, and provider search.
Additionally, we validate the data by working with revenue cycle management consultants, hospital systems, and medical practices across the country. Thousands of medical practices use our data to validate their payer mix and inform their rate negotiations. This rigorous validation process minimizes discrepancies and ensures you have access to the most precise data for your analyses.
Additionally, our pricing structure is transparent and designed to scale with your needs, ensuring you get maximum value for your investment. We provide these complete datasets at a fraction of the cost of other vendors in the space, making our solution both powerful and cost-effective.
Whether you use Excel, Tableau, Power BI, or a custom analytics solutions, our data can be easily accessed and incorporated into your existing systems.
Your business team can easily slice, dice, and filter negotiated rate data using the HexIQ Platform, and final reports are delivered in an Excel-friendly CSV format.
We provide comprehensive support to ensure a smooth integration process, allowing your team to leverage our dataset without disrupting your current operations.
Additionally, we provide training programs tailored to your team’s needs, ensuring they are well-equipped to fully make use of the dataset and extract valuable insights.