Healthcare Bluebook Raises $7M to Help Companies Deal with Rising Costs and Obamacare

Healthcare Bluebook Raises $7M to Help Companies Deal with Rising Costs and Obamacare

January 14, 2014 10:00 AM Eastern Standard Time

NASHVILLE, Tenn.--(BUSINESS WIRE)--Healthcare Bluebook, the trusted source for employers and consumers to find fair healthcare prices, announced today that it has secured a $7 million strategic investment from Nashville-based The Martin Companies. Launched in 2007, Healthcare Bluebook has become the industry leader in developing price transparency solutions for consumers, self-insured employers, health plans and Third Party Administrators (TPAs).

Healthcare Bluebook has grown rapidly by helping companies lower costs within the existing healthcare system. Health reform is adding financial pressure to all employers and consumers via increased deductibles and mandates. While Healthcare Bluebook has achieved explosive growth over the past three years and currently supports hundreds of employers and many of the largest TPAs in the US, the $7 million investment by The Martin Companies will enhance Healthcare Bluebook’s rapid growth, as well as the introduction of new services that will transform the healthcare experience for consumers and providers.

“Healthcare Bluebook is fortunate to have the opportunity to team up with Charlie Martin and The Martin Companies. Mr. Martin is an extremely successful healthcare entrepreneur and business leader. As a true visionary, he understands both the challenges the healthcare system faces and the opportunities to bring better value to consumers,” said Dr. Jeffrey Rice, CEO for Healthcare Bluebook.

Mr. Martin will serve as a senior advisor to the company as it evolves its business to meet the needs of consumers and providers.

“After striving to bring better value to consumers and healthcare purchasers, I know that price transparency is critical to solving the fundamental issues of value and affordability. We invest in companies that are innovative and game changers,” said Martin. “Healthcare Bluebook has achieved national recognition, broad adoption of its solution, and proven outcomes in lowering healthcare costs. In my view, the Healthcare Bluebook solution will be fundamental to transforming the healthcare market.”

Dr. Rice added, “We look forward to collaborating with Mr. Martin, The Martin Companies and their affiliate organizations. They have a unique perspective on what it takes to deliver value and many of their initiatives will complement and reinforce our strategic objectives.”

Mr. Martin concluded that “While Healthcare Bluebook has achieved profitability for the past three years and offers their clients the best value in the transparency space, our strategic investment will afford them a chance to further accelerate their goal of connecting patients with providers, fair and simple.”

About Healthcare Bluebook

Healthcarebluebook.com, headquartered in Nashville, TN, is a leading provider of healthcare price transparency tools to employers, TPAs, health plans and provider organizations. Healthcare Bluebook tools help employers and employees save money by enabling consumers to understand local healthcare prices, compare providers on price and quality, and shop for care anywhere in the United States. To learn more, please visit our web site at http://www.healthcarebluebook.com or call (615) 422-5213.

Contacts

Healthcare Bluebook, Inc.
Jeffrey Rice, MD, JD, 615-422-5213
jrice@healthcarebluebook.com

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Lou Everhart