Curious about what Madaket’s Provider Data exchange Platform can do for your health system?
Spoiler Alert: it’s a lot!
Our ROI calculator: www.madakethealth.com/roi. is as easy as clicking ‘See my ROI’ in the upper right-hand corner. Answer a few simple questions, and boom – in 30 seconds, you’ll see the millions you could be saving your provider organization.
And that’s just the tip of the iceberg. You’ll also get better directory accuracy, happier members and providers, and stay compliant with the No Surprises Act.
Check out this week’s Madaket Minute, to discover how this free tool can help you clearly demonstrate to your CFO the significant savings Madaket can bring to your organization. Don’t miss out—make the move and see the magic for yourself!!
Read the video transcript below and subscribe to Madaket Health on YouTube.
Video Transcript:
All right. So you’re interested in what making the move to Madaket’s provider data exchange platform is going to save and generate efficiency for your health system. Congratulations!
Maybe your move to greater provider data accuracy is new, or maybe you’ve been on this quest for 20 years and you’re just seeking greater accuracy and efficiency; you’ve come to the right place. We’ve built a handy dandy little ROI calculator for you. Just simply navigate to the MadaketHealth.com website. Up in the upper right-hand corner, you’ll see a button that says, ‘See my ROI’.
There, you’ll be taken to a page dedicated for payers and plans to gauge what their ROI would be, or for provider organizations. Let’s just sample the provider organization plan. You are greeted with a few questions that you will likely know the answers to off the top of your head, and within 30 seconds you’ll have your ROI.
So hypothetically, let’s say I’m a provider organization that has 20,000 providers. Estimated number of departing providers? Okay, well, we have some retirements and some attrition. Let’s just say we lose 100 providers per year. But, we’re growing, thanks to a good marketing and recruiting department. We are adding 200 providers per year.
Average number of payer contracts per provider? The industry average is about 15 to 20, so we’ll say 17. And what is the average hourly wage of the medical staff professionals responsible for these tasks today? Let’s just say it’s $50 an hour. Now, granted, you may have some onshore and offshore doing it.
Have you ever had a provider fall out of a participated status? I haven’t seen an organization that can answer no, so we’re going to click yes. Oftentimes, it’s through no fault of your own, but providers fall out of enrolled status all the time. How are you performing these enrollment tasks today? Well, given that you have 20,000 providers, my guess is that you’re using a third-party software. We do want the name to help do some apples-to-apples comparison, but for this example, we’ll just say TBD.
Since you are probably doing estimated onshore and offshore costs, this is, we’ll say, in the $1.5 to $2 million range because you have quite a few people doing this, probably in the vicinity of 45 to 50, so we’ll say 45. Then you just click ‘Calculate my ROI’.
If you were to make the move to Madaket, you would be saving $13 million a year. That’s not including how much accuracy your directory would have, the increase in member satisfaction, the increase in provider satisfaction, and the increased efficiencies. Let’s not forget about the avoidance of provider data accuracy fines related to the No Surprises Act.
This is a free ROI tool, and it’s very valuable. Now you can go with confidence to the CFO and say, ‘This is what the move to Madaket will save.’
