Silicon Slopes names Savvos Health its health tech partner

Silicon Slopes has named Savvos Health its Official Health Technology Partner, giving the Utah startup a larger platform as it pushes to replace healthcare claims with immediate settlement. Savvos says its SmartPay platform now supports more than 300,000 lives and pays providers at the point of care, with no claim and no member out-of-pocket cost.

Why it matters: - Savvos Health is pitching a direct challenge to the healthcare claims system by replacing it with immediate settlement at the point of care. - The model is aimed at lowering prices, reducing administrative friction and giving employers and health plans more transparent costs. - Silicon Slopes is now amplifying that message through its events, content, programming and member communications.

What happened: - Silicon Slopes named Savvos Health its Official Health Technology Partner. - The agreement gives Savvos visibility across Silicon Slopes events, content, programming and member communications. - Savvos says its SmartPay platform supports more than 300,000 lives. - Silicon Slopes CEO Clint Betts said Utah’s tech community is built by people who question entrenched systems and that healthcare purchasing is a major opportunity for that kind of change.

The details: - Savvos SmartPay lets regional health plans, third-party administrators and self-funded plans pay providers immediately using plan dollars through a virtual payment card. - Providers, surgical centers and hospital systems receive payment at the point of care. - Members pay nothing out of pocket, and most plans waive deductibles. - Savvos says no network is required. - The company frames the model as bundled, transparent pricing agreed before care is delivered. - Lou Morin, Savvos founder and CEO, said the company is eliminating healthcare claims instead of trying to process them faster. - Morin said cash pay is not new, but Savvos is bringing it to scale with technology. - The release cites RAND Corporation data showing that in 2022 employers and private insurers paid hospitals an average of 254% of Medicare rates for identical services at the same facilities. - Savvos case studies cited by the company include a heart ablation reduced from $150,000 to $36,000, a hernia repair from $64,000 to $7,000, a knee replacement from $62,000 to $21,000 and chemotherapy from $250,000 to $50,000. - Those examples represent savings of 66% to 89%. - The company says those cases also carried zero out-of-pocket costs for employees. - Savvos says the claim was the markup, not the receipt. - The company says it has been named to the Inc. 5000 and the Utah Fast 50 for multiple consecutive years. - Savvos provided a LinkedIn link for the company: Savvos Health on LinkedIn.

Between the lines: - Savvos is not positioning itself as a better insurer workflow. - The company is reframing payment itself as the product, which puts pressure on the long-standing logic of claims-based pricing. - Silicon Slopes’ endorsement gives the company credibility inside Utah’s startup ecosystem and a direct channel to employers and builders.

What's next: - Savvos and Silicon Slopes are pointing employers to an Immediate Settlement event focused on self-funded employers. - Savvos will continue using Silicon Slopes channels to promote the model. - The company is likely to keep arguing that immediate payment and upfront pricing can replace claims rather than simply optimize them.

The bottom line: - Savvos wants healthcare buyers to stop managing claims and start buying care like a modern payment transaction.