Enabling provider-network transparency across the healthcare industry
NEW YORK, Sept. 21, 2015 /PRNewswire/ — Vericred (www.vericred.com) has formally launched its provider-network data application programming interface (API) enabling private healthcare insurance exchanges, health insurance quoting and enrollment platforms and web-based health insurance brokers to offer decision support tools to help their users find a health plan in which their doctors participate.
Last month, Vericred introduced PlanCompass Pro, a Software-as-a-Service (SaaS) application for insurance brokers utilizing doctor-centric search to show which of a client’s doctors are in or out of every available plan’s network, right next to the costs and benefits of those plans. Now the same provider-network data powering PlanCompass Pro is available to power doctor-centric search on every platform where an individual or business shops for insurance, or seeks to find a new doctor. Licensing sales for the API have begun, and one prominent web-based insurance broker has already licensed Vericred’s data.
“We believe the transparency into provider networks delivered by PlanCompass Pro should be ubiquitous throughout the industry. That’s why we are making our data broadly available,” said Michael W. Levin, co-founder and CEO of Vericred. “With the increasing shift to plans with narrow networks, consumers need tools to evaluate each plan’s provider network and make informed decisions.”
A recent report from the UPenn Leonard Davis Institute of Health Economics noted that in 2014, 41 percent of Silver plans offered on the marketplaces were “x-small or small, meaning that they included 25% or less of the physicians in a rating area.” In several states, more than 70 percent of Silver plans utilized these narrow networks.
Vericred, Inc. is a digital health startup with a mission to be the trusted source for 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. Follow Vericred on Twitter, Facebook and LinkedIn.
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