10.23.2018 | Burgess cited in Gartner research report entitled, “Adopt Value-Based Payment Reconciliation Systems Soon to Meet Expanding Healthcare Payer Needs”
ALEXANDRIA, Va. – Burgess, an innovator in healthcare payment operations for over 20 years, announced that the company has been mentioned in Gartner’s report: Adopt Value-Based Payment Reconciliation Systems Soon to Meet Expanding Healthcare Payer Needs.1
In the report, Gartner looks into how payers are handling next-generation value-based contracts, concluding that most payers handle this process manually. Gartner recommends that U.S. healthcare payer CIOs modernizing healthcare administrative systems should position their “organization for continued value-based payment expansion by selecting a technologically advanced vendor with a coherent product roadmap and demonstrated ability to execute.” It adds that they should “prepare for next-generation value-based provider contracts by investing in automated payment reconciliation IT applications.”1
Gartner goes on to emphasize the importance of focusing on vendors with an expertise in technology. “Seek a technologically advanced vendor with growing functional capabilities regardless of a vendor’s background. In particular, look for systems that support flexible quality methodologies, episode grouping and benchmarks since these are increasingly likely to vary across provider contract arrangements and morph over time.”1
The report mentioned Burgess in the “Select a Value-Based Payment Reconciliation Vendor for Current and Future Functionality” section.
The issue of advanced technology and its role in payments for healthcare payers will be the focus of Chief Strategy Officer Jared Lorinsky’s upcoming AHIP webinar on Oct. 29, entitled “Embracing the Evolution of Health Care Technology.” For details on these and all other Burgess events, visit the events page on burgessgroup.com.
The shift toward value-based care has been significant in healthcare, with most providers and payers putting an emphasis on the reimbursement structure. However, the ability to handle the payments associated with this system has created a challenge for those in the payer sphere. According to a survey, “payers are finding they need a long time to implement programs. Only 21% say they can roll out a new episode of care program in three to six months. More than one-third said they need a year, 21% need 18 months and 13% require up to two years or more.”2
Burgess’s latest innovation, Burgess SourceTM, provides payers with a forward-thinking enterprise platform to manage payment rules and workflow. It incorporates business intelligence with real-time dashboards in the cloud to show you the impact of business decisions. Burgess Source delivers transparency to payers, their providers, and their partners, serving as a single source of truth, and a single point of accountability.
For more information on Burgess Source and to discover how its unified approach can streamline payment operations in your organization, visit burgessgroup.com.
1 Gartner, Adopt Value-Based Payment Reconciliation Systems Soon to Meet Expanding Healthcare Payer Needs, Analyst(s): Bryan Cole, Published: 19 September 2018 ID: G00365991.
2 Masterson, Les (2018) Payers moving to value-based care faster than expected. Retrieved from https://www.healthcaredive.com/news/payers-moving-to-value-based-care-faster-than-expected/525900/
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Burgess is dedicated to improving healthcare payment operations through technology. We bring technology innovation and real-time data to an overlooked and critical part of the American healthcare system. Our scalable Payment AccountabilityTM platform, Burgess Source, integrates payer systems to transform payment workflows and provide powerful business intelligence to lift payer performance. The company is located in Alexandria, Va., with a satellite office in West Hartford, Conn., and online at burgessgroup.com.
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