TAMPA, Fla. and NASHVILLE, Tenn. and INDIANAPOLIS and GRAND RAPIDS, Mich. and CHICAGO and NORTHVILLE, Mich., Nov. 8, 2018 /PRNewswire/ -- This morning a group of five leading health care enterprises, including National Government Services, Spectrum Health, WellCare Health Plans, Inc. (NYSE: WCG), Accenture (NYSE: ACN), and The Hardenbergh Group, announced their participation in a distributed ledger program aimed at resolving the administrative inefficiencies related to professional credentialing.
Credentialing healthcare professionals is a universally problematic process for any industry member that delivers or pays for patient care. The process often requires four to six months to complete and directly impedes the ability for a healthcare professional to deliver care and be reimbursed for their work. Hospitals alone forfeit an average of $7,500 in daily net revenues waiting for credentialing and payer enrollment processes to complete. Further, nearly every organization required to perform this work does so independently—creating a significant administrative burden for practitioners.
"We are excited to be participating in this network and look forward to addressing the long-standing challenges credentialing presents to our business and our expansion into growth areas such as telemedicine and outpatient care," said Dr. Matthew Denenberg, Vice President of Medical Affairs of Spectrum Health.
The Professional Credentials Exchange (ProCredEx) will directly address the time, cost, and complexity associated with these processes by facilitating the secure, trusted exchange of verified credentials information between exchange members.
"A fundamental component of developing the exchange lays in building a network of members that bring significant verified credential datasets to the marketplace," said Anthony Begando, ProCredEx's Co-founder and CEO. "These are the leading participants in a growing group of collaborators who bring data and implementation capabilities to accelerate the deployment and scaling of the exchange."
"Over the coming months, we intend to grow the Partner Program in a manner that diversifies our member base and grows the volume of verified credentials data available within the exchange," Mr. Begando said.
About ProCredEx LLC
ProCredEx, in partnership with Hashed Health, is developing and operating the Professional Credentials Exchange as a secure and reliable method for trading verified credentials information between disparate healthcare organizations. The exchange leverages advanced data science, artificial intelligence, and blockchain technologies to greatly simplify the acquisition and verification of information related to professional credentialing and identity. For more information, please visit www.procredex.com and www.hashedhealth.com.
About National Government Services
For more than 50 years, National Government Services has been a trusted partner and innovative leader in federal health care contracting. Employing approximately 1,700 associates, National Government Services is committed to providing robust health information technology and administrative services. As a Medicare contractor for the Centers for Medicare & Medicaid Services (CMS), National Government Services processes more than 230 million Medicare claims and administers benefits of approximately $81 billion from the Medicare Trust Fund annually. Additional information about National Government Services is available at http://www.ngsservices.com.
About WellCare Health Plans, Inc.
Headquartered in Tampa, Fla., WellCare Health Plans, Inc. (NYSE: WCG) focuses primarily on providing government-sponsored managed care services to families, children, seniors and individuals with complex medical needs primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, as well as individuals in the Health Insurance Marketplace. WellCare serves approximately 5.5 million members nationwide as of September 30, 2018. For more information about WellCare, please visit the company's website at www.wellcare.com.
About Spectrum Health, Inc.
Spectrum Health is a not-for-profit health system, based in West Michigan, offering a full continuum of care through the Spectrum Health Hospital Group, which is comprised of 12 hospitals, including Helen DeVos Children's Hospital; 180 ambulatory and service sites; 3,600 physicians and advanced practice providers; and Priority Health, a health plan that served one million members in fiscal year 2018. Spectrum Health is West Michigan's largest employer, with 26,000 employees. The organization provided $434 million in community benefit during its 2018 fiscal year. Spectrum Health has earned recognition as one of the nation's 15 Top Health Systems six times by Truven Health Analytics®, part of IBM Watson HealthTM.
About Accenture LLP
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world's largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With 449,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.
About The Hardenbergh Group, Inc.
The Hardenbergh Group is a leading provider of temporary staffing and consulting for medical staff services departments, CVOs, health plans, and other provider settings. During its 20-year history, Hardenbergh has served over 1,200 clients, from group practices and small independent hospitals to health plans and large tertiary hospitals within large for-profit healthcare systems. The company places experienced and qualified Medical Services Professionals who provide staffing, leadership, operational support, and management consulting services. Hardenbergh's solutions help reduce organizational risk, improve the revenue cycle, and lower non-reimbursed labor costs. Learn more about Hardenbergh's services at www.hardenberghgroup.com.