LOS ANGELES - (Business Wire) The State of Michigan recently selected Medversant Technologies, LLC (www.medversant.com) as the vendor for its Medicaid Transformation Grant (MTG) Credentialing Project, which was awarded for the use of innovative methods designed to create better health outcomes at lower cost. Under the MTG, Medversant will process all credentials files for all provider types on behalf of the state. “A key to the selection of Medversant was our advanced provider data management platform and patented, game-changing process for continuous credentials verification, AutoVerifi™, (U.S. Patent 7,529,682),” says Matthew Haddad, Medversant’s president and CEO. “Our technology finds provider information from thousands of databanks all over the Web, verifies, and automatically updates and sends auto alert notifications based on status changes such as address changes, sanctions, or any other information update.”
Medversant will help the State of Michigan to centralize credentials verification processes in an effort to streamline the process, reduce costs, and provide real-time access to continuously updated information. In addition, Medversant supports a comprehensive provider data management platform, Encompass™, which manages all provider data in real-time through a continuous centralized credentials verification process with on-demand reporting to the state and any subscribing outside stakeholders. This capability eliminates the redundancy and costs associated with current credentialing and provider data management, and gives Michigan centralized control of all of its provider data.
Haddad says that this translates into saving the Medicaid program an enormous amount of money every year in its credentialing costs. For other health care entities in the state, this project makes available -- for the first time -- a continuous credentialing and data integrity process for roughly 15 percent of the cost of the static two-year or three-year credentialing process.
Janet Olszewski, director, Michigan Department of Community Health, states, “Using this technology, the state will have the capacity to immediately verify the credentials of a provider submitting a claim, ensuring that the claim is from a provider eligible for reimbursement under state Medicaid rules before the department issues payment.”
Melanie Brim, director, Bureau of Health Professions, adds that the Medversant solution is currently performing continuous verification -- scrubbing, cleaning, and performing primary source verification of every provider in the initial data set. “Once implementation is complete, we will be able to credential within 30 days of receipt of an application.”
Medversant allows the State of Michigan to potentially acquire all of the pertinent information for the credentialing process from the license issue and renewal process, so that a provider would literally fill out only one application to practice in any facility or contract with any health plan in the state.
The Medical Group Management Association estimates that a provider fills out an average of 17 applications per year, and a medical group of 10 providers spends an enormous amount of money per year to undergo the credentialing process.
“This additional process will save providers in the state of Michigan significant time and resources,” Olszewski adds. “Medversant will have a profound and positive impact on our provider community.”
About Medversant
Medversant Technologies, LLC is the nation’s leading provider of continuously monitored Web-based credentials verification solutions through patented AutoVerifi™ technology (U.S. Patent 7,529,682) for hospitals, health insurance plans, nursing homes, outpatient centers and other healthcare settings. Medversant provides a software tool that is highly efficient, cost-effective and an accurate solution for provider database management. Headquartered in Los Angeles, Calif., Medversant can be reached at (213) 291-6139 or www.medversant.com.
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