Contracts
- Standardized terms and conditions
- Between a purchaser and a provider
- Designated, coordinated procedures, treatments and / or services (i.e. bundled healthcare services)
- Buyer of a contract may subsequently resell to another buyer
- Only term to be negotiated is price
- Contract is comprised of description of the medical care and services and contractual terms and warranties
Exchange
- Electronic platform
- Exclusive access by accepted participants (payers and providers)
- Option to review contracts
- Option to create offer to sell and to create bid to buy
- Automatic real-time inventory management
- Platform confirms transactions and payments
HCFEx is working with employers, insurers, and healthcare providers to create bilateral contracts (Standardized Bundled Payment ContractsTM). These contracts include an agreed-upon set of services offered at a market driven price that insulates against price, revenue and expenditure volatility. Specifically, for a segment of the population, SBPCsTM enable market competition and transparency by establishing predictable and reliable prices for various procedures, therapies and services, delivered within a particular geographic location. These contracts enable uniformity of services and higher standards of care along with sound fiscal management, thereby improving productivity and enhancing employee healthcare choices.