SHERBROOKE, Quebec, Oct. 17, 2014 /PRNewswire/ -- Global Excel Management (GEM) recently launched FairChex, a hospital value ranking tool to help plans save money and improve quality outcomes on their inpatient admissions. GEM anticipates this product could save thousands of dollars on each inpatient admission while increasing quality of care for patients.
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FairChex is a unique tool that prompts the user to select a clinical category or DRG and geographic area. The results page ranks facilities by value – a weighted blend of cost and quality. It highlights estimated costs for a procedure, provider mark-ups, Medicare reimbursements and quality rankings specific to the procedure selected.
GEM partnered with CareChex®, a division of Comparion Medical Analytics, to provide access to the most comprehensive and accurate inpatient quality data available to consumers, providers and purchasers of U.S. medical care. Unlike other publicly available quality ratings, Comparion provides a composite evaluation of inpatient medical quality including process of care, outcomes of care, and patient experiences.
According to Benjamin Tabah, Product Development and Marketing Manager at GEM, "There are a lot of tools out there for shopping routine care, but we wanted to focus on inpatient care which is where the value is and to use the most objective data we could find. With more patients acting like consumers now, the ability to influence behavior through incentives is ripe and the time for FairChex is now."
GEM anticipates clients could see savings of $10,000 or more each time an 'A' facility is selected over a 'C' one. For complex (more expensive) admissions, or in situations where network discounts might play a larger role, the savings could be significantly higher.
"The value to the clients is exciting," states David O'Connor, president of GEM. "This isn't limited to cost savings either - by using FairChex, administrators have access to a tool that can help them work with members to choose high quality facilities, improving outcomes of care."
To learn more about FairChex, or to request a presentation, visit www.fairchex.com. For additional information on how FairChex could impact your organization, please contact Benjamin: Email, 819-437-2277.
About GEM
Global Excel Management (GEM) is a worldwide leader in the field of medical cost containment services. Founded in 1996, the company has been offering cost-containment and cost-avoidance solutions for to payers with exposure to US healthcare. Domestically, GEM is recognized as a leader in negotiations and high-dollar bill reviews. GEM has been promoting pre-service negotiations for years and, with FairChex, the company has laid the foundation necessary to promote this type of healthcare shopping. For further information, visit globalexcel.com.
Media Contact:
Benjamin Tabah
Product Development and Marketing Manager
Global Excel Management
Email
819-437-2277
SOURCE Global Excel Management
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