Healthcare Finance News May 7, 2024
Senator Kobuchar has introduced legislation prohibiting the use of pricing algorithm collusion through the use of nonpublic competitor data.
Senator Amy Klobuchar has sent a letter to the Attorney General’s office and to the Federal Trade Commission asking for an investigation into the use of algorithm pricing tools by health insurers.
“Recent reporting has indicated that firms may be using algorithmic tools to undermine competition and push additional costs onto patients that receive healthcare out of their insurance network,” Klobuchar wrote, citing New York Times reporting.
In the letter, Klobuchar specifically cited MultiPlan, a Massachusetts-based company specializing in claim-cost management.
The firm sells data to help insurance companies determine how much they should pay providers for out-of-network medical care, and...
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