Blue Shield of California Signs Extension for MedeAnalytics' Operational Transparency Solution
EMERYVILLE, Calif., Nov. 1, 2012 /PRNewswire/ -- MedeAnalytics, a leading provider of healthcare performance management solutions, announced today that Blue Shield of California has signed a three-year extension for its use of MedeAnalytics' Operational Transparency solution.
Blue Shield of California's innovative Partnership in Operational Excellence and Transparency (POET) program is an initiative to improve relationships with hospitals by proactively sharing claims performance data and using that data to jointly develop process changes, system enhancements, and other administrative improvements. Between 2008 and 2011, Blue Shield-contracted hospitals have seen their claim denials decrease from 22.8 percent to 17.4 percent, their EDI submission rate increase from 85.2 percent to 90.3 percent, and their claim cycle time decrease from 31.9 days to 28.1 days.
"We are pleased to continue to work with Blue Shield of California and recognize the success of the POET program," said MedeAnalytics' Chief Executive Officer Mike Gallagher. "Blue Shield of California has led the way, partnering with hospitals to reduce the time and costs of claims processing and enhance performance."
Operational Transparency is the only solution on the market that enables health plans to reduce unnecessary denials and appeals and improve operational performance simultaneously. Payers communicate with providers via a web-based analytic portal, sharing key performance indicators—such as turnaround time, appeal and denial reasons—and enabling providers to drill down to the root causes of their underperformance.
About Blue Shield of California
Blue Shield of California, an independent member of the Blue Cross Blue Shield Association, is a not-for-profit health plan with 3.3 million members and 4,800 employees. Founded in 1939 and headquartered in San Francisco, Blue Shield of California provides health, life, dental, vision, and Medicare insurance and health care service plans in California, has one of the largest provider networks, and $9.7 billion in annual revenue. In 2012, Blue Shield of California was named one of the World's Most Ethical Companies. Since 2005, the company has contributed more than $200 million to Blue Shield of California Foundation, one of BusinessWeek's most generous corporate foundations. Contact your local agent or broker about Blue Shield of California products and services, or visit www.blueshieldca.com.
Founded in 1994, MedeAnalytics delivers performance management solutions across the healthcare system—including hospitals, physician practices and payers—to ensure accountability and improve financial, operational and clinical outcomes. For more information, visit www.medeanalytics.com.
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