By ET Bureau - August 07, 2020 3 Mins Read
Apervita, a trusted technology leader in healthcare collaboration for payers, providers and other stakeholders, today formally launched QPay™, a platform for payers and providers to jointly manage value-based contracts in their networks.
QPay offers a flexible, secure cloud platform for optimizing the success of payer contracts based on performance metrics. To reduce friction and enable performance transparency throughout the life of the contract, QPay provides actionable insights to both payers and providers via dashboards driven by next-generation analytics capabilities. This enables payers and providers to see contract performance in key metrics such as cost of care and utilization versus benchmarks, as well as against targets agreed upon in their contracts.
U.S. payers and providers enter into new value-based commercial and government healthcare contracts that add up to more than $100 billion in reimbursements each year. Managing them can cost millions in FTEs to support paperwork and other manual processes, in addition to building in-house infrastructure.
With QPay, providers can see their progress against their negotiated contract terms, and course correct performance as needed versus waiting up to nine months when managed with paper and spreadsheets, which is often the case. “QPay encourages collaboration amongst payers and providers by empowering them with the same regularly refreshed performance data against their contract terms,” said Kevin Hutchinson, CEO of Apervita. “Added to our powerful quality measures engine, we provide a digital cloud platform that not only replaces today’s onerous manual processes but also enhances data insights through storyboarding and visualizations that make data actionable.”
Prior to Apervita’s acquisition of Qcentive in 2019, QPay began as a co-development effort with Blue Cross Blue Shield of Massachusetts (BCBSMA), a payer that has been evolving and enhancing their value-based contract strategy for more than 12 years. BCBSMA’s industry leading experience and Apervita’s subject matter expertise in value-based contract models has been paramount in the development of the product. QPay was developed to automate, enhance, and then scale a value-based analytic and performance insight solution.
“The enhanced analytic capabilities of the QPay tool will supplement our manual efforts and have the potential to save time and create more meaningful conversations with our provider networks,” said Rich Lynch, Chief Operating Officer at Blue Cross Blue Shield of Massachusetts. “Based on years of experience with value-based contracting, I can tell you it’s critical to have a solution that continues to foster and strengthen payer-provider collaboration and ensures improved outcomes for us, our providers, and, most importantly, our plan members.”
Apervita’s platform enables payers, providers and other stakeholders to share data as well as applications. QPay supplements the well-regarded Apervita solution lineup, which includes a cloud-based quality improvement measures platform that currently supports more than 2,500 hospitals, and its interoperability and data-sharing services, which enable seamless, secure sharing of health records between health plans, providers and their members and patients.
The platform covers e entire enterprise technology space- including emerging technologies like RPA, AI, cloud, automation, and the entire gamut of digital transformation tools, strategies and management decisions.
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