What you need to know:
- Ribbon Health, a provider data and technology company, today announced the launch of the Ribbon Provider Data Platform, breaking the industry’s longstanding challenges with provider data.
- The cloud-native SaaS platform combines Ribbon’s high-quality provider data directory with advanced data management capabilities, an industry-first powerful combination that allows healthcare companies to easily configure custom data workflows to drive operational efficiency and value. can be promoted. .
- Provider Data Platform customers can reduce data ingestion and processing costs by up to 95%, improve data comprehensiveness and accuracy by up to 90%, build better member, patient, and provider experiences, and manage complex provider We expanded our operations without worrying about. data.
Overcoming Healthcare Data Challenges: Ribbon’s Innovative Provider Data Platform
Managing provider data is essential for healthcare organizations as it supports critical processes such as claims payment, network design, and patient care. However, this task poses significant challenges and strain on resources. Provider data comes from a variety of sources in varying formats and qualities, lacks a unified source of truth, and is frequently updated due to changes in provider office and contact information. facing. The top five national health plans show discrepancies in 81% of provider data entries, 30% of provider information changes annually, and estimated annual expenditures for data management by commercial health plans is $2.1 billion.
To further complicate matters, many organizations rely on piecemeal, manual approaches to managing provider data, resulting in administrative inefficiencies, user friction, the formation of “ghost networks,” This leads to various downstream impacts such as delays and errors in claims processing, compliance and compliance issues. Regulatory Risk.
The Ribbon Provider Data Platform provides solutions for healthcare companies to transform provider data from a tedious operational task into a source of lasting business value. Unlike traditional data management providers, Ribbon consolidates provider data and advanced data management tools into a unified, comprehensive platform. This provider data platform offers time-saving automation and an interconnected set of features, including a ribbon directory, partner data marketplace, data integration, master data management, accuracy scoring, and data views.
“We first created the Ribbon Directory to curate high-quality provider data and have since expanded it to meet the needs of large enterprises with their own data. , we have experienced firsthand the pain and complexity of working with provider data, and we are excited to evolve our initial solution into an integrated platform with extensive data management capabilities. ,” said Nate Maslak, co-founder and CEO of Ribbon Health. “The Ribbon Provider Data Platform makes it easy for people to find the best care when they need it and enables healthcare organizations to do more with the data they already have, which has traditionally been an operational pain point. We can turn things into sources of business efficiency and value.”
The Ribbon Provider Data Platform offers distinct benefits to primary care, care navigation, employee benefits, and health insurance organizations by allowing access to:
1. A vast provider data repository covering 99.9% of U.S. providers and facilities. Carefully curated from thousands of sources using Ribbon’s proprietary AI model.
2. A growing network of data partners facilitates efficient access to provider data attributes within Ribbon’s platform.
3. Automated tools for data ingestion and processing. Significantly reduce your team’s time by up to 95% on tasks like roster and data ingestion, data standardization, and QA checks.
4. AI-powered accuracy tools have improved data quality for providers, increasing data accuracy by 90%.
5. Advanced master data management capabilities that simplify the centralization, management, and governance of large and complex provider datasets.
Ribbon works with healthcare organizations across the industry, including HealthAdvocate, Firefly Health, Healthee, and two of the top five national healthcare plans. The company aggregates provider data from numerous sources and employs proprietary machine learning models for data cleansing and validation. The provider data platform seamlessly integrates with your existing data sources and workflows via APIs, and a dedicated support team provides customized assistance. Ribbon plans to introduce additional platform features and expand data partnerships in the near future.
