The self-funded community can find and compare providers and fuel healthcare consumerism
Payer Compass, a leading provider of healthcare cost control solutions, announces the launch of CompassConnect, a transparency tool that will reshape the healthcare experience for third-party administrators, brokers, self-funded employer groups and plan members.
Using data intelligence from proprietary and multiple outside data sources, such as CMS and Physician Compare, CompassConnect is designed to drive increased plan utilization and healthier outcomes through transparency. The platform contains an array of provider data – general contact info, specialty, cost, geographic location, and quality ratings. Users have the freedom to compare and select physicians, ultimately giving the plan members control over how they spend their healthcare dollars. The tool makes it easier to comprehend member health benefits through the dashboard feature that will show a full view of the member’s utilization summary, individual claim history, and overall plan terms.
The app was designed with the user experience in mind, keeping information easily digestible. Providers are identified in written and visual, color-coded form based on their level of acceptance for reference based pricing plans, ranging from “Safe Harbor Providers” to those that are not RBP friendly.
Employers’ costs for plan benefits are driven by employees and their insured family members. To generate operational efficiencies and design a plan that best fits the members, CompassConnect gathers member data this is shared with the plan administrator. This firsthand insight helps the plan admin or advisor identify high utilization members, design programs for them, and specify terms to meet members with the care they need. Plans can also take this data to address member engagement, build trust, and ideally improve the organization’s population health.
“CompassConnect is our next step in delivering the most innovative and client-centric solutions, supporting our mission to control the cost of care. The current state of healthcare – the accessibility and out-of-pocket-cost for the members – is so crucial at this time, and we feel like we have something that will genuinely make a difference,” says Greg Everett, President and CEO of Payer Compass.
Early results of the solution’s impact show noticeable results – groups are seeing an uptick in plan utilization and more cases of plan acceptance by providers. It is proving to be helpful for members located in rural or remote areas where care options are limited by specialty or geographic location.
CompassConnect is an add-on solution for clients already integrated with our full reference-based pricing program, Innovate360, but it can also function as a standalone solution.
To learn more about CompassConnect, please click here.