Mark GalvinFounder, President and CEO, TALON · President and CEO, TALON

Future of the Healthcare Market - TALON and Transparency

21 May 2021 · 2 min

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2:18

In this brief dialogue, two speakers outline Talon’s mission to reshape the U.S. healthcare delivery system through price transparency and consumer choice. Speaker A likens future healthcare shopping to buying a flat‑screen TV in a big‑box store, where a consumer can instantly compare prices on a mobile device and receive price‑matching from competitors. The goal is that patients will be able to pull up a doctor’s or facility’s price for a service—such as an MRI—on their phone, compare it to nearby alternatives, and choose a reasonable price rather than paying inflated, opaque fees. While higher quality or convenience may justify modest premiums, the speakers argue that extreme price disparities (e.g., a $4,000 MRI versus a $600 alternative) should be eliminated. They predict that within a few years, this consumer‑driven pricing model will become standard, forcing providers to compete on price and value.

We call this Talon because we will not let go until every consumer has their day.
What does their day look like to you? What will it look like if Talon succeeds as wildly as it deserves to? What's it going to look like in 3 years, the healthcare delivery system, because of what Talon has initiated.
The healthcare industry should look very different as a result of some of the things we've initiated and all the great things that people have been doing to help move this along. And, uh, think about this: if you go into a big box store and buy a flat-screen TV, or you're going to buy a flat-screen TV, You can pull your mobile phone out and search that particular make and model of TV, and if the store down the street has it cheaper, they'll usually price match it right there because they still want your business. Mm-hmm. That— we'll know that we've gotten there with healthcare when you can go where you want to go and you're only going to pay a reasonable amount for the care you receive there. If they're higher quality, sure, they should get a little premium. If they're a little more convenient, they should get a little premium. But in no case should they be getting 10 times as much as the provider down the street. And so I think you're going to see this happen in the next few years, actually, where You can pull your phone out of your pocket and say to the doctor who wants to send you across the hall for an MRI that's outrageously priced otherwise, say, hey, I can get that down the street for $600. I know it's more convenient to just go across the hall. I'm willing to pay a little bit extra, $700, $800, maybe $1,000. I'm not paying $4,000.