CLIFTON, N.J. and NEW YORK, April 6, 2015 /PRNewswire/ -- Vericred, Inc. (www.vericred.com), a digital health startup focused on developing accurate, complete and accessible provider data, has been named as one of five finalists in a competition run by the Robert Wood Johnson Foundation and the U.S. Department of Health and Human Services.
The "Provider Network Challenge," administered by Health 2.0, is designed to spur the development of applications that help consumers understand the network of healthcare providers within an insurance plan, and to be able to search for physicians within an insurance network in order to be able to make informed decisions when selecting a health plan. The competition attracted a field of 24 entries.
Vericred, headquartered in New Jersey and with offices in New York City, began operations in 2014. The company's competition entry was based on its goal of building a national healthcare provider directory and its initial success in developing and launching a consumer-friendly, physician/insurance plan search tool called PlanCompass (www.plancompass.com). The PlanCompass site is free to use and is already serving consumers in four states ̶ New Jersey, Connecticut, Rhode Island and Vermont. National coverage is slated for Q4 2015, just in time for the next national Affordable Care Act open enrollment period.
"Our research shows that most consumers want a health plan that allows them to keep their doctors," said Michael Levin, founder and CEO, Vericred. "However, it has been exceedingly difficult to determine which doctors participate in what plans. PlanCompass.com brings complete transparency to the process by showing whether or not a consumer's trusted doctors participate in each available plan, thereby allowing consumers to make a fully informed choice."
In addition to being named a finalist, Vericred and the four other contenders will be awarded $5,000 each and continue on to the final phase of judging to be announced in August 2015.
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Vericred, Inc. is a digital health startup focused on accurate, complete and accessible healthcare provider data. Healthcare provider data is central to a variety of insurance, patient safety, risk management, compliance and regulatory functions. However, the collection and verification of this information is highly fragmented, costly and inefficient. Vericred's solutions enable healthcare providers, facilities and insurers to improve healthcare delivery while reducing administrative burden and cost.
SOURCE Vericred, Inc.