Blues Plan Creates 27,000 Contracts and Amendments with Industry Leading
PORTLAND, Ore., Feb. 19 /PRNewswire/ -- Kryptiq, the leading provider of next generation healthcare connectivity solutions, today announced that Regence, the largest not-for-profit health insurance carrier in the Pacific Northwest and Mountain State regions, has successfully implemented Kryptiq's Choreo(TM) Suite. Regence is utilizing the Choreo Suite to increase contracting efficiency, improve management of alternative contract language and enable rapid assessment of contract compliance across its entire network. With Choreo, Regence was recently able to create 23,000 contracts and 4,000 amendments, while maintaining a complete audit history of all contracts activities.
"Since implementing Kryptiq's Choreo Suite, we've seen an improvement in our ability to produce, store and query contracts and amendments supporting our core business," said John Wagner, vice president of network strategy, provider operations and dental programs for Regence.
As contracting requirements and legislation become increasingly complex, access to current and accurate contractual information is paramount. Regence users now have instant access to critical contract information and the organization as a whole is better able to respond to changing market conditions.
"The most significant impact of Choreo is the ability to manage contract compliance to our dynamic business," said Wagner. "As an organization, Choreo is enabling us to be responsive to regulation, nimble to meet changing market conditions and confident in our business processes."
"Regence is a recognized industry leader in driving healthcare transformation," said Luis Machuca, president and CEO of Kryptiq. "With Choreo, Regence now has a platform for enabling information transparency across their organization and to their major stakeholders."
The strength of the Blue Cross and Blue Shield brand is unsurpassed in the health plan industry, providing customers with local, regional and national access to exceptional products, providers and other services. Regence includes Regence BlueShield of Idaho, Regence Blue Cross Blue Shield of Oregon, Regence Blue Cross Blue Shield of Utah and Regence Blue Shield (in Washington). Collectively, these four Plans serve nearly three million members across four states, with more than $7 billion in combined revenue.
Uniquely designed for health plans, Kryptiq's Choreo product suite transforms provider contracting and network management processes. Choreo provides the information transparency and workflow process automation necessary to competitively grow and manage provider networks. An end-to-end contract management solution, Choreo serves as a single content source for health plan contracting. Choreo automates the way contracts are created, negotiated, amended, viewed, analyzed, managed, distributed and audited. Choreo automates contract creation, streamlines negotiation and manages provider demographics and rates to provide system-wide visibility into provider network information.
Regence is the largest health insurer in the Northwest/Intermountain Region, serving nearly three million members as Regence BlueShield of Idaho, Regence BlueCross BlueShield of Oregon, Regence BlueCross BlueShield of Utah and Regence BlueShield (in Washington). Each plan is a not-for-profit independent licensee of the Blue Cross and Blue Shield Association. Regence is committed to improving the health of our members and our communities, and to transforming our health care system. For more information, please visit http://www.regence.com.
About Kryptiq Corporation
Kryptiq is the leading provider of next generation healthcare connectivity solutions, enabling healthcare providers and health plans to utilize and share vital information effectively. Kryptiq's award-winning Connect IQ(TM) and Choreo(R) solutions are being adopted by many of America's top providers, health plans, and leading healthcare IT vendors to achieve new levels of mobility, accessibility, and visibility to critical information. For healthcare providers, Kryptiq's Connect IQ product suite revolutionizes collaborative care. Connect IQ establishes the secure connectivity and system interoperability necessary to streamline information sharing among healthcare professionals, their colleagues, and patients they serve. Uniquely designed for health plans, Kryptiq's Choreo product suite transforms provider contracting and network management processes. Choreo provides the information transparency and process automation necessary to competitively grow and manage provider networks.
Many of the nation's top health plans and providers rely on Kryptiq and Kryptiq's strategic partners and relationships, including GE Healthcare, Microsoft, Sage Software, and The TriZetto Group, to improve business and enhance care. Organizations such as Providence Health System, MedStar Health, Village Health Partners, MeritCare Health System, BlueCross and BlueShield of Minnesota, and The Regence Group turn to Kryptiq's proven solutions for healthcare transformation to improve workflow, gain unparalleled access to information, and foster greater collaboration and communication among health plans, health care providers and consumers. For more information on the company, visit http://www.kryptiq.com/.
|SOURCE Kryptiq Corporation|
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