The Concord team converted an outdated system with a cumbersome, manual process into a business advantage. We developed a data ingestions service and convenient user interface as a comprehensive solution to accommodate the needs of member services, care coordination, provider network management, actuarial, and finance operations. What was once a massive spreadsheet is now a real-time process that ingests data from multiple sources to a consolidated database easily accessible by a user-friendly interface.
The new provider incentive payment solution is helping our client manage their value-based care arrangements and lead to improved outcomes. Within two years of implementation, our client improved their provider payment cycle time by nearly 35%, reduced payment errors and labor costs, and increased their program star rating from 3.5 to 4.5.
The new system ultimately provides the following benefits:
- Creates reliable support for value-based payment arrangements
- Calculates total costs and metrics to support quality improvements
- Gains transparency in viewing flow of money, including medical spend drivers
- Contains costs by attributing member to provider
