With support from The Boon Group, Austin-based health startup FairPrice Network launched an online social network designed to enhance price transparency and comparison shopping for medical services.
FairPrice Network uses reference-based pricing to connect consumers with health pricing information. Using a database of pricing reference points, the site helps consumers compare the price and quality of a particular medical service offered by hospitals in their geographic area.
"As the cost of healthcare in the U.S. continues to soar, we recognized the need for comprehensible healthcare pricing in one place," said James Patton, CEO of FairPrice Network, in a statement. "We created FairPrice Network to address the lack of transparency in healthcare spending by offering a patient-first approach."