5 Ways Pareo® Benefits Health Plan Vendors

Sep 11, 2018

ClarisHealth’s Total Payment Integrity™ solution strengthens vendor partnerships

Sooner or later it’s bound to happen: your health plan wants to shake things up a bit. New processes, new technology, new point of contact, bringing new third-party services providers on board. It’s enough to rattle the vendors you have a long-term relationship with. But a new PI software isn’t cause for concern, and in the case of Pareo®, it can actually help strengthen your vendor relationships.

For those health plan implementing our total payment integrity solution, this could be the very thing your vendor partners never knew they always wanted. The right technology can foster a more collaborative, productive and efficient relationship between health plans and their vendors.

Below we’ve outlined 5 ways that Pareo benefits health plan vendors:

1. Real-time Feedback Loop

Lack of comprehensive information access for health plans can mean that communication often lags. Important details and insights into claims denials may have been missing for vendors in the past. But now, with Pareo, third-party vendors can benefit from a real-time feedback loop with their partners.

The clear communication that Pareo establishes between vendors and health plans has another valuable benefit: feedback on goals and performance. According to Entrepreneur, immediate and regular feedback is more effective. “Productive feedback requires giving it frequently,” writes Scott Halford. This clarity allows all partners to work better together.

Quick, efficient, transparent – is this how you would describe your current vendor relationships?

2. No More Guessing

Work overlap wastes resources, and vendors who are integrated with Pareo can work more efficiently because of the clear workflows and assignments our platform supports. Vendors no longer have to guess if a claim has been audited by someone else. Pareo benefits health plans and their vendors by providing information on the status of claim audits.

The transparency provided by Pareo can improve business relations as well. Avoiding overlap prevents frustration for all parties and may help build better business relationships. In particular, mistakes can be quickly identified and corrected. “When a mistake is more than a minor setback, do something to make it right or otherwise provide value to the wronged party,” writes Inc.

3. Quick Onboarding of Vendors

Hit the ground running with Pareo, which benefits health plans by streamlining the vendor onboarding process. We provide standardized data templates that vendors can use to upload audit findings. The benefit is obvious: health plans improve recoveries with more vendors while vendors can prove their value much more quickly and easily.

When health plans outsource vendor management to ClarisHealth, it allows us to connect with vendors early and make onboarding run even more smoothly. Because we understand the value of vendors to health plans, we work quickly to make sure vendors can onboard seamlessly.

4. Fast Turnaround on New Concepts

Get approval quickly on new concepts with Pareo, which houses all relevant data so vendors can obtain buy-in from health plans. This ability for information to be housed on one platform fosters an innovative and proactive payment integrity program. With fast turnaround on new concepts, health plans and their vendors can stay ahead on industry innovations.

One of Pareo’s many benefits is the ability to capture and store data that is needed for claims management. This helps avoid siloed data in an organization, which often impedes efficiency and innovation. For years now, breaking down big data silos has been viewed as a way for health plans to have a competitive advantage (more on that below).

5. Integration with Pareo is a Competitive Advantage

Integrating with Pareo proves that your organization is ready to innovate with technology. “It’s become impossible to separate business strategy from technological innovation,” writes Forbes. This is something that payment integrity departments have experience with: technology is key to creating competitive advantage. But for health plans, being innovative requires breaking out of big data silos and sharing relevant data with key third parties.

Pareo addresses this effort head-on by providing clear access to data that is relevant for each vendor, so that your vendors are working on value-added activities that deliver greater payment integrity results.

 

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