Aurora, IL, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Simplify Healthcare, one of the fastest-growing healthcare technology solutions providers in the market, announced that several of its clients leveraged its Medicare Advantage benefit plan management solution, eMedicareSync™, to complete another successful PBP bid submission season.
Replicating the previous year’s success, Simplify Healthcare once again enabled submission of more than a quarter of the total PBPs (26%) and 20% of the total Standard Employer Group Plans through eMedicareSync™. Several health plans have realized the solution’s operational benefits, which is evident from the large number of filings made through the Medicare Advantage benefit plan management platform each year.
A total of 1,517 Individual PBPs and 349 Standard EGWPs were filed through eMedicareSync™ this year. The solution’s bulk update feature facilitates automation and mass uploading of hundreds of fields across the entire portfolio (10 to 850 plans) in a single process that provides significant time and cost savings.
Tasneem Chital, Vice President, Government Business at Simplify Healthcare, said, “We are delighted to see our clients benefit from eMedicareSync™. Several health plans have embraced our platform in the past two years, realizing its potential to improve accuracy, compliance, and speed-to-market. We expect more health plans to use the platform for end-to-end MA product lifecycle management as we continue to enhance the capabilities of the solution.”
Many Medicare Advantage health plans that previously relied on homegrown processes and Excel grids to manage their bid submissions manually were able to successfully submit their Medicare Advantage plans to the CMS this year with increased efficiency and accuracy. eMedicareSync™ enabled them to manage their plans based on last year’s submissions and export PBP compatible files within the application while ensuring that guardrails, validations, version controls, and other benefits were realized.
eMedicareSync™ is the industry’s first end-to-end benefit plan management solution that automates processes from plan configuration to PBP bid submissions and document generation using a single source of truth. It was designed to solve some of the key challenges that healthcare payer industry has long faced, like legacy systems, siloed benefit data, version control issues, Excel grid-driven manual processes, and last-minute fire drills to address changes coming from the CMS.
eMedicareSync™ can reduce up to 90% of submission errors, lower administrative costs, and increase the ability to handle last-minute CMS changes. Simplify Healthcare stays on top of CMS mandated changes and updates its solution so that customers can focus on other aspects of their business.
“Our focus on working closely with our customers, understanding their pain points, and quickly responding to CMS changes has made eMedicareSync™ a leader in the MA benefit plan management space. This would not be possible without the trust, support, and partnership of our clients,” said Mohammed Vaid, CEO and Chief Solution Architect at Simplify Healthcare.
ABOUT SIMPLIFY HEALTHCARE
Simplify Healthcare is one of the fastest-growing healthcare technology solutions providers offering end-to-end solutions to address the pain points for healthcare payers. Simplify Healthcare is the leading player in the benefit plan management vertical with deep expertise for Large Group, Small Group, and Individual benefit plan management across all lines of business (Commercial, Medicaid, Medicare, and ACA QHPs). The company is quickly emerging as a player in other areas including: Provider Data, Directory, and Contract Management; Client Setup, Onboarding, and Enrollment Management; Member and Provider Benefit Inquiry; and Value-Based Payment Reconciliation. The company has consistently seen an increase in PBPs filed with CMS using the Medicare Advantage plan management solution, eMedicareSync™, currently accounting for 1 in 4 individual PBPs submitted to CMS. The company ranked 38 in the 2021 Inc. 5000 Regionals list of the fastest-growing private companies in the Midwest region and 700 in the 2021 Inc. 5000 America’s fastest-growing private companies list. In 2020, the company ranked 164 in Deloitte’s Technology Fast 500™ list and was also recognized in Gartner’s 2020 Hype Cycle for the U.S. Healthcare Payers report.
For more information, please visit www.simplifyhealthcare.com
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