NEW YORK, May 22, 2018 /PRNewswire-USNewswire/ -- FH® Category III, a new addition to FAIR Health's suite
"To reflect our commitment to transparency, we look for ways to value procedures for which data have never before been available to the market," said FAIR Health President Robin Gelburd. "Grappling with Category III codes is sometimes difficult for payors and administrators, and we now offer data to help them make decisions about these codes."
Category III codes, which end in "T," are often either replaced by Category I codes or deleted within five years. Some Category III codes, however, may stay in use for longer periods. Representative services in FH Category III include:
Designed for insurance and workers' compensation markets, FH Category III is intended to help payors and third-party administrators make pricing and contracting decisions regarding professional services represented by these codes. The new product serves as a complement to FAIR Health's existing FH Medical module.
FH Category III provides benchmark values for the codes based entirely on actual billed charge data for each code in each of 493 geozips, geographic areas that typically track with the first three digits of a zip code. If the number of actual charges for a procedure code/geozip combination is insufficient to develop a benchmark, no information will be reported.
FH Category III will be released twice a year, at the end of May and November, with each release representing 12 months of charge data. The benchmark values will be arrayed from the 50th to 95th percentiles and include the mean (average) and mode (most frequently occurring value). Flexible formats are available to facilitate loading the data to clients' systems.
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About FAIR Health
FAIR Health is a national, independent, nonprofit organization dedicated to bringing transparency to healthcare costs and health insurance information through data products, consumer resources and health systems research support. FAIR Health possesses the nation's largest collection of private healthcare claims data, which includes over 25 billion claim records contributed by payors and administrators who insure or process claims for private insurance plans covering more than 150 million individuals. FAIR Health licenses its privately billed data and data products—including benchmark modules, data visualizations, custom analytics, episodes of care analytics and market indices—to commercial insurers and self-insurers, employers, providers, hospitals and healthcare systems, government agencies, researchers and others. FAIR Health also holds separate data representing the experience of more than 55 million individuals enrolled in Medicare. Certified by the Centers for Medicare & Medicaid Services (CMS) as a Qualified Entity, FAIR Health receives all of Medicare Parts A, B and D claims data for use in nationwide transparency efforts. FAIR Health can produce insightful analytic reports and data products based on combined Medicare and commercial claims data for government, providers, payors and other authorized users. FAIR Health has earned HITRUST CSF and Service Organization Controls (SOC 2) certifications by meeting the rigorous data security requirements of these standards. As a testament to the reliability and objectivity of FAIR Health data, the data have been incorporated in statutes and regulations around the country and designated as the official, neutral data source for a variety of state health programs, including workers' compensation and personal injury protection (PIP) programs. FAIR Health data serve as an official reference point in support of certain state balance billing laws that protect consumers against bills for surprise out-of-network and emergency services. FAIR Health also uses its database to power a free consumer website available in English and Spanish and an English/Spanish mobile app, which enable consumers to estimate and plan their healthcare expenditures and offer a rich educational platform on health insurance. The website has been honored by the White House Summit on Smart Disclosure, the Agency for Healthcare Research and Quality (AHRQ), URAC, the eHealthcare Leadership Awards, appPicker, Employee Benefit News and Kiplinger's Personal Finance. FAIR Health also is named a top resource for patients in Elisabeth Rosenthal's book, An American Sickness: How Healthcare Became Big Business and How You Can Take It Back. For more information on FAIR Health, visit fairhealth.org.
Contact:Dean SicoliExecutive Director of Communications and Public RelationsFAIR Health646email@example.com
1 CPT © 2017 American Medical Association (AMA). All rights reserved.
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SOURCE FAIR Health
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