This platform offers healthcare pricing data and analysis, enabling employers and other purchasers to compare costs across hospitals and providers. By providing transparency into healthcare expenses, the platform helps organizations control costs and improve the value of their healthcare investments.
Funding
Funding not disclosed
Founders
Product
Problem
The lack of transparency in healthcare pricing makes it difficult for consumers and employers to make informed decisions about medical procedures, leading to inflated costs and financial strain. Patients often lack access to the actual prices charged by hospitals, hindering their ability to compare costs and choose affordable options.
Solution
FireLight is a healthcare pricing service that provides a user-friendly platform for comparing hospital prices for common, non-emergency procedures. The platform aggregates actual prices charged by hospitals to insurance companies, revealing the significant price variations that exist within the same city. By offering transparency into healthcare costs, FireLight empowers consumers and employers to identify cost-effective providers and make informed decisions about their healthcare investments. The service also incorporates quality ratings for each hospital, enabling users to assess both cost and quality when selecting a provider. FireLight aims to address the dysfunction in healthcare pricing by revealing previously hidden costs and promoting a more competitive marketplace.
Target Audience
FireLight targets individual consumers with high-deductible health plans or no insurance coverage, as well as employers, especially those that are self-insured, seeking to manage employee healthcare costs.
Features
- Comparison of actual hospital prices (negotiated rates) for up to 70 'shoppable' procedures and services
- Hospital quality ratings integrated alongside pricing data
- Coverage of common non-emergency services, including imaging, tests, and inpatient procedures
- Identification of 'reasonable prices' for procedures in each city
- Incentive system for employers to reward employees who choose high-value healthcare providers