We’re thrilled with the recent recognition we’ve received from Everest Group in this year’s PEAK Matrix Assessment for Healthcare Payer Operations. It’s extra meaningful this year, as Conduent moves “up and over” in the matrix — from “Major Contender” last year to our 2020 designation as a “Leader” and “Star Performer.” We know we’re in good company, and we’re excited about the work we’re doing to continue to not only differentiate and diversity our offerings — but more importantly, create more value for the healthcare payers who depend on our services and solutions every day.
Here are three core focus areas that have helped Conduent move up the Everest Group PEAK Matrix – delivering enhanced value to our clients in 2020 and beyond.
- We offer a sophisticated, fully integrated core platform foundation
In their recent report, the Everest Group specifically mentioned Conduent’s enhanced capabilities since the acquisition of HSP in late 2018. We’re energized by the opportunities this acquisition has provided for our business and our clients, helping them automate their claims processing workflows while saving time and money with one of the most sophisticated, customizable Core Administrative Processing Systems available today. But that’s just one piece of our diverse health plan offerings, in which we’re applying an outcome-based approach to deliver greater value at every step of the journey.
- We’re taking a data-driven, analytical approach to drive savings
Over the past several years, we’ve witnessed major consolidation among health plans bringing challenges for many in the midst of mounting costs. Most of our health plan clients typically spend 85-95% of every premium dollar they receive on paying claims, leaving very little wiggle room for administrative expenses and thus very slim margins for revenue.
With many of our clients desperately seeking ways to lower medical spend, we’ve been able to assist them through a comprehensive, analytical approach that’s entirely powered by data — data that we manage, safeguard and use for the benefit of our clients in everything we do. From mitigating cases of fraud, waste and abuse to benefits coordination and recoupment of inaccurately paid claims, we’re taking a surgical approach to conserving our clients’ spend, helping them eliminating leakage, and deliver exceptional experiences to their customers every step of the way.
- We’ve diversified our offerings to create more value
In addition to our traditional offerings for health plans, we’ve started up a specialty services offering in 2020, designed to help our clients save an additional 4-8% off their current medical spend — on top of other strategies they may be using to improve their medical loss ratio. These new offerings are complementary to existing cost-cutting tactics; non-invasive to our clients’ operations; and carry zero risk to current processes, vendors or workflows with minimal risk of provider abrasion.
We are 100% focused on helping our clients find better, less expensive alternatives in key areas including: durable medical equipment (DME), medical pharmacy services, and diagnostic imaging to name a few. These areas have long been ripe for asset recovery, and we’re making it happen through the strategic analysis of client data — and through partnerships with the most knowledgeable and experienced consultants in these areas of asset recovery.
Our clients pay nothing unless we’re able to recover funds and save them money — and we’re already making that happen through our comprehensive approach to payment integrity and an unrelenting focus on creating value.
We are humbled and motivated by our recent PEAK Matrix recognition. This year’s listing and our move up the matrix represents our hard work and progress in delivering greater value and more diverse offerings for our clients. We look forward to delivering to continued momentum in the months and years ahead.
View the PEAK Matrix Assessment on Conduent’s healthcare payer operations – services experience and capabilities now.
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