International Data Corporation (IDC), the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets, has recognized Change Healthcare in the Leaders category of its IDC MarketScape: U.S. Contract Management Tools for Payers 2018 Vendor Assessment (doc # US43511218, February 2018).
According to the IDC MarketScape, Change Healthcare is a mature player in this market and has taken significant time and effort over the past decade to both optimize the individual features of its modular Provider Network Management suite and integrate the pieces around network/contract management, each coming from different roots.
“Health plans are continuing to seek solutions that improve administrative efficiency and maximize the value of their provider relationships,” said Mike Flanagan, vice president, Provider Network Management, Change Healthcare. “Contract Manager helps to streamline the contracting processes, ensuring that contract terms are accurately represented across the enterprise while also helping to ensure payment accuracy and improve staff efficiency. Being positioned as an IDC MarketScape Leader demonstrates our commitment to helping health plans optimize the end-to-end contracting lifecycle.”
IDC MarketScape selection criteria represent well-researched IDC judgment about the market and specific vendors. IDC analysts tailor the range of standard characteristics by which vendors are measured through structured discussions, surveys, and interviews with market leaders, participants, and end-users in an effort to provide an accurate and consistent assessment of each vendor’s characteristics, behavior and capability.
The IDC MarketScape recognition is the result of recent enhancements to Contract Manager that were enabled by collaboration with existing customers. Contract Manager can import data from provider enrollment and contract modeling processes to accelerate contract development efforts. Once executed, the key contract terms needed to support provider payments can be exported from Contract Manager, eliminating interpretation and keying errors which occur during manual benefit setup steps.
Working together with Provider Manager and Reimbursement Manager, Contract Manager is part of a suite of solutions which helps to optimize the provider contracting lifecycle. These solutions can help health plans easily identify medical cost-saving opportunities and automate the end-to-end contract lifecycle to maximize value from their provider contracts.
Many contract management solutions are not clearly focused on the unique needs of the healthcare market. Customers that buy such generic solutions often must invest additional funds on product customization to more effectively manage the data and processes of today’s complex provider contracts.
“The growth of risk-sharing contracts and value-based reimbursement has significantly increased the complexity of health plan provider contracting efforts,” added Flanagan. “Today, the sophistication required to create provider contracts, model contract rates, monitor contract performance and ensure accurate payments is challenging to manage without technology designed for the unique needs of healthcare contracting. Raising awareness of the value our specialization adds should be a strong driver of health plan interest in our solution, helping to distinguish Change Healthcare from our competitors.”
Read more about how to optimize your contracting lifecycle.
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