Newton, Mass.-based McKesson Health Solutions debuted a new pricing tool designed to better manage and automate reimbursement transactions in an increasingly value-based world.
As payers navigate the waters between fee-for-service and pay-for-performance pricing, payers are often frustrated by revenue management systems that prove incapable of adapting to new markets. McKesson Reimbursement Manager 3.0 aims to give payers a more efficient payment model to assess, execute and scale increasingly complex transactions.
Below are five things insurers and hospitals should know about McKesson's pricing system.
1. Payers can use McKesson Reimbursement 3.0 to configure their own payment methodologies based on their unique needs and business practices, the company claims.
2. The new pricer utilizes claim and non-claim related data, products and programs and service lines and groups to produce a more accurate contract amount.
3. McKesson's pricer enhances pricing transparency by clarifying how each rate was uniquely determined.
4. By enabling integration with other claims systems, McKesson believes their pricing tool will automate the reimbursement lifecycle and eliminate the need for costly software development and customization.
5. McKesson said the pricer will increase speed to market and help payers remain competitive by increasing pricing accuracy and eliminating development costs.
“We’ve spent a lot of time with customers at leading health plans to understand their challenges and what they need to overcome them,” said Michael Flanagan, VP of Reimbursement Solutions at McKesson Health Solutions. "It comes down to understanding the elements of transitioning from fee-for-service to value-based approaches for reimbursement, and the daunting complexity of that transition."
More Articles on...
State panel approves plan for Illinois hospital to close in January
2020 forecast: US drug spending to reach $575B
Moody's affirms Wake Forest Baptist's 'A2' rating