For health plans, maintaining accurate provider data is critical to upholding a good reputation. But with the constant influx of new data, manually capturing updates can get messy fast. And with the strict regulations imposed by the No Surprises Act (NSA), even one error in your provider directory can lead to costly fines.
What if we told you that you could save lots of time and money with a tool that automates provider roster ingestion, data curation, and ad hoc report management? Now, you can use our ROI calculator to find out just how much you can save within seconds.
Watch the last installment of our three-part Madaket Minute series to learn more about Madaket’s Provider Data Exchange (PDX) Platform and how it can keep you NSA compliant.
Read the video transcript below and subscribe to Madaket Health on YouTube.
Video Transcript:
Welcome to another Madaket Minute. On this last installment of our three-part series on how to scale provider roster ingestion, we’re exploring the ROI of having a tool to automate that provider roster ingestion, curate that data, and be able to handle all of those provider terms in the ad hoc reports.
Now, here’s the problem that PPO networks and health plans are facing every day, everyone is kind of in the same boat; if your provider data is wrong, it wreaks financial havoc on your plan or your network. Let’s say a physician or nurse practitioner changes locations, and they don’t let you know. Or they change their tax ID number, and they don’t let you know. Or they send a roster full of a ton of practicing addresses, and they’re really only practicing at half of those. This is bad data. So, what’s the first thing that’s going to happen? Claims are going to start getting denied. And who is going to be held responsible? You are. Your clients and your members are going to look to you to fix this problem.
So, what are the benefits to Madaket’s Provider Data Exchange Tool? Well, first of all, you’re going to have much quicker roster-to-directory turnaround times. With NSA, you only have 48 hours to get those updates ready and into your system. You’re going to have faster regulatory compliance. CMS has admitted that in 2024, they’re going to be even more on the lookout for noncompliance in provider directories. Be prepared. Make sure that you have automation in place, like Madaket’s Provider Data Exchange, that’s going to keep you compliant. Because what you don’t want is to have unfavorable results, have to read a corrective action plan, and know that you’re going to permanently be on CMS’s radar. Because once you get on it, you’re not coming off. Reducing staffing costs. Our efficient process means less work for your in-house staff because as you scale, you certainly don’t want your operating costs to scale with you. Improve your NPS scores with your members and your providers. Give them a better overall member experience.
All of this can be achieved with a very fast implementation time of just 30 to 45 days. So, how much will Madaket’s Provider Data Exchange save your health system or your payer organization? Go to the link in the description, enter a few key pieces of information, like the number of members and providers that you have, and you can calculate your potential ROI. If you have questions on how we calculated this, schedule a call with us and we’re happy to go over it with you. See you next time.
