In an era of escalating healthcare costs, stakeholders are seeking effective strategies to manage expenses without compromising quality. Our survey report delves into the potential of Reference-Based Pricing (RBP) as a solution. RBP offers a unique approach, but widespread adoption requires a deep understanding of its mechanisms and advantages. 

While RBP holds promise, successful implementation requires access to specific capabilities and competencies, which few organizations possess in-house. However, partnering with a member-centric RBP solution provider can bridge these gaps.  

Through such a partnership, stakeholders can offer members an open-access health plan that not only provides freedom of choice in providers but also lowers healthcare costs, increases pricing transparency, and offers customizable benefit and plan designs. Members receive comprehensive support, including pre- and post-visit assistance, education about RBP, access to a technology platform for provider selection, legal escalation support, and provider contracting support. 

When implemented successfully, RBP can substantially curb escalating claims costs while still enhancing access to care. In other words, embracing this innovation is key to advancing healthcare cost management.