Turquoise Health
Price transparency data and contract management
Our take
Turquoise Health, launched in San Diego in late 2020 as federal price transparency rules took effect, ingests and cleans the machine-readable rate files that hospitals and payers are required to publish, then layers claims data and Medicare benchmarks on top to produce a defensible market rate for every payer-provider combination. Providers use it to see where their contracts sit against the market, payers use it for compliance and network work, and its Clear Contracts product moves the data into the contracting workflow itself, replacing paper-based managed care processes.
With more than 280 customers, including 10 of the top 25 health systems, 4 of the 5 national payers, and 9 of the top 10 pharma companies, Turquoise has become the reference dataset for healthcare pricing. UNC Health and Loma Linda University Health are publicly documented users, with UNC citing about $2M saved in one negotiation. A $40M Series C led by Oak HC/FT in March 2026 brought total funding to $95M. The buyer's job is to remember what it is: superb pricing intelligence and contracting software, not a revenue cycle engine.
What it does
- Aggregates hospital and payer machine-readable rate files
- Clear Rates: a single benchmark rate per payer-provider pair
- Clear Contracts: managed care contract management with AI
- Rate benchmarking for payer negotiations
- Price transparency compliance tooling
Where it's strong
- The deepest cleaned dataset of negotiated rates in the market, drawn from both hospital and payer transparency disclosures plus claims and Medicare benchmarks.
- Broad adoption across the ecosystem, including 10 of the top 25 health systems and 4 of the 5 national payers, means both sides of a negotiation may already trust its numbers.
- Documented contract wins: UNC Health credits the platform with roughly $2M saved in a single negotiation.
What buyers should weigh
- Machine-readable file data is messy and payer-published rates can be stale or ambiguous, so validate its numbers against your own contracts before negotiating off them.
- Clear Contracts is much newer than the core data business; treat the contract workflow modules as maturing product.
- It informs pricing and contracting but does not process claims or touch your billing operations.
Latest
In March 2026 Turquoise raised a $40M Series C led by Oak HC/FT to build what it calls the operating system for healthcare contracts and payments.
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