A strategic mix of payment integrity suppliers can propel your health plan’s cost containment efforts far beyond relying upon internal resources alone. Because Pareo® makes it easier than ever to add suppliers to your payment integrity operations, your health plan likely will want to pursue new partnerships. But not all suppliers are created equal. Your health plan will need to determine which suppliers will be the best fit for your organization.
What makes a good third-party vendor? Here’s a list of questions to get you started.
Technical Aptitude: Do they have the IT bandwidth to deliver needed files?
An ideal third-party supplier will be a partner to your health plan, working alongside you to find a solution. An organization that demonstrates an ease with technology should be a great fit with your health plan, as they’ll need to demonstrate technical aptitude in order to truly partner with you. If you find a potential supplier inflexible now, that attribute is unlikely to change as your needs grow more complex.
Communication: How is a supplier producing identifications?
It’s not just the volume of identifications that matters when choosing a supplier — quality matters, too. Suppliers need to demonstrate that they understand your health plan’s abilities in order to be an optimal partner. Ask a potential business partner if their reporting is more than just revenue goals. Your health plan will need more information than just dollars identified over a period of time. Other information that helps includes:
- Information that identifies current gaps in claims edits and other revenue functions
- Meaningful information (not just numbers)
Suppliers have the potential to be your own “Research and Development” shop. So you’ll want to establish how often a new supplier will be able to provide you with new concepts, which may also help you evaluate their ability to scale alongside your health plan. Furthermore, ask if the concepts are custom to your particular scenarios, or more broadly applicable to all their health plan clients.
Senior-level engagement within the organization of a third-party vendor can be telling when it comes to value. Post go-live, engagement by upper management can go down significantly. Ask a supplier how they “hand off” clients internally, and how this will affect you. Establish a plan going forward.
Other Considerations: Level of Commitment and Turnaround Time on Requests
Health plans want to evaluate the commitment of a potential vendor before engaging them as a business partner. As signs of commitment, expect an ideal supplier to give you multiple points of contact, rather than one individual. Access to a team allows for better communication and greater innovation. Additionally, identify resource allocation over time. Will fewer and fewer people be dedicated to your health plan as time goes on?
You’ll also want to ask a supplier about the turnaround time on requests. In general, does that time frame look like weeks or a year? Does the supplier have a very particular way of doing things (an established process, data formatting protocols) that require a lot of output/effort from your health plan?
Health plans need more suppliers to see larger gains in their recoveries. But ongoing management historically has been tedious (at best). Not so with Pareo® Supplier Optimization, a feature that allows health plans and suppliers to “plug in” to data sharing and even set KPIs, personalized to individual vendors. When information is readily available, health plans can easily add more suppliers and, in turn, those suppliers can quickly implement solutions.
More from Our Blog:
ClarisHealth Achieves HITRUST CSF® Certification to Manage Risk, Improve Security Posture and Meet Compliance Requirements
HITRUST CSF Certification validates ClarisHealth is committed to meeting key regulations and protecting sensitive information. NASHVILLE, Tenn., April 17, 2019 – ClarisHealth, a leading provider of advanced payment integrity technology for health plans, today...
Health plans considering self-developed payment integrity technology should ask themselves: Do we have the resources to be agile? Iterative Software Development: A cyclical method of software development which focuses on improvements based on continual revisions and...
Your health plan is more likely to adopt new technology if you allow your team the vulnerability of saying “I don’t know” when learning. “I don’t know.” It’s a response that frustrates parents everywhere but also can be one that, in the right conditions, signals...