Revolutionizing Healthcare Cost Analysis with NetworkDx Database
NetworktDx gives Health Care Payors and Reinsurers web access for contract analyses.
Lynnfield MA, April 16, 2014: One of the most frequent struggles that any healthcare payor faces is PPO contract analysis. The larger the network, the more labor intensive the contract review process. With the Affordable Care Act substantially increasing the number of businesses that self-insure, more companies will be directly providing for their employees’ health care, thus increasing an already ubiquitous need for cost assessment. Knowing what the contract specifies for coverage is imperative.
Before NetworkDx, contract and network analysis was performed by hand, with some analyses taking as long as six months. NetworkDx drastically reduces this time, making accurate analyses quickly available to any subscriber with internet access (including smart-phones). Without using specific contractual language, comprehensive summaries inform subscribers of the extent of their contractual rights for in-network claims. NetworkDx analyzes and summarizes payors’ audit rights, usual and customary charge definitions, dispute resolution procedures, and miscellaneous provisions with a direct, user-friendly interface.
“Many benefit plans are bound by contracts they either don’t understand or have never seen. Examining the network agreements compiled by this new NetworkDx software makes a problematic task significantly less daunting,” explains Adam V. Russo, Esq., Chief Executive Officer of The Phia Group, LLC. “Advanced Medical Strategies, a Massachusetts based firm, has taken advantage of our expertise and a decade’s worth of contractual review, and created a clear, concise, and useful feedback tool that users can access through on-line software.”
The collaborative product of these two powerhouse firms – health care cost containment expert, The Phia Group, LLC, and healthcare database innovator, Advanced Medical Strategies, have combined to create NetworkDx, a new, patent pending software as a service (SAAS) subscription-based offering that provides health care payors comprehensive analysis of the provisions in PPO contracts.
Not only can NetworkDx subscribers accurately assess the most cost-efficient means of adjudicating claims in-network, they can utilize the database to evaluate networks prior to signing a PPO contract. NetworkDx’s in-depth summaries allow subscribers to examine the general terms of the network’s contract without divulging any propriety information. Only NetworkDx offers this cross-network, convenient and comprehensive service with contract information added to the database regularly.
“In Advanced Medical Strategies’ continuing efforts to provide innovative products with a high return on investment, we are happy to have worked in partnership with the PHIA group on NetworkDx. By leveraging decades of experience and knowledge we have been able to fill a void in the self-funded marketplace with a product that is not only easy to use but is affordable priced and delivered free of technology hassles. It is what I consider the ultimate guide to navigating the network contractual landscape,” states Peter Borans, President of Advanced Medical Strategies.
Advanced Medical Strategies is a physician-lead organization bringing innovative solutions to the health care payor industry. Based in Lynnfield, MA, Advanced Medical Strategies has been offering world-class claims review and cost containment services since 2003. For more information, or to schedule a demo, please call Danae Lambeth, National Sales Director at Office: (781)-224-9711 x107 or email at email@example.com