SubPop Health

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City: Nashville

State: Tennessee

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Country: United States

SubPop Health (SubPop) enables employers to control the $1.2 trillion in spending they make annually on healthcare benefits. Employer-sponsored healthcare accounts for half of US healthcare costs and is usually an employer&s;s largest expense aside from wages. Rising costs have prompted employers to restructure their benefits with higher employee premiums and larger deductibles. Employer-sponsored coverage costs 224% more than Medicare for the same services from the same providers. This dynamic is the result of various intermediaries who stand between the employer and their employees on one hand and high-value care providers on the other. Employers have reached a tipping point. They have reached the limit on the financial responsibility they can offload to their employees. New organizations built to take risks by delivering high-value care are looking to contract directly with employers. The Consolidated Appropriations Act (CAA) raises the fiduciary duties of employers to spend healthcare dollars effectively. SubPop is the first group purchasing organization for employers for healthcare services. SubPop leverages market-level purchasing power to give employers agency, improve their ability to purchase high-value healthcare benefits at reasonable prices, and increase transparency in the healthcare industry - all while providing providers direct access to purchasers who have traditionally had to wade through expensive and inefficient channels. Employers can use our tools to identify opportunities in their claims history and then find and evaluate high-value providers. SubPop aggregates purchasing power to get the best contracts. SubPop measures provider performance against contractual obligations to improve provider selection. SubPop is the only complete aggregation and specification solution for employers. We have a partnership with the Purchaser Business Group on Health (PBGH), a purchasing collaborative representing nearly 40 private employers and public entities that spend $350 billion annually on healthcare for over 21 million Americans. Chris Gormley, the CEO, and co-founder of SubPop, has successfully built and led healthcare technology platforms and purchasing organizations. He has previously worked at FreeMarkets (acquired by Ariba), GE Healthcare, Medpricer (acquired by Premier), and Premier.

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