NEW YORK--(BUSINESS WIRE)--Ribbon Health, a provider data and technology company, today announced the launch of Ribbon Provider Data Platform, disrupting a long history of industry challenges with provider data. The cloud-native SaaS platform combines Ribbon’s high-quality provider data directory with advanced data management capabilities – a powerful, first-of-its-kind combination for the industry that allows healthcare enterprises to easily configure custom data workflows to drive operational efficiency and value. Customers of the Provider Data Platform have reduced their data intake and processing costs by up to 95%, improved data comprehensiveness and accuracy by up to 90%, built better member, patient, and provider experiences, and scaled their operations without worrying about complex provider data.
“As a health plan, we’re leveraging Ribbon Provider Data Platform to help us make decisions around how to drive down total medical expenses for our members,” said Jane Zhu, Director of Product Management at Firefly Health. “Ultimately, a big driver of a health plan’s success depends on whether or not we’re able to navigate our members to that high quality, high value care, and the Provider Data Platform is integral to driving those decisions.”
Provider data connects patients to the best and right doctors, and is the backbone of any healthcare organization – it’s how claims are paid, networks are designed and members find care. It underpins the critical business processes that make healthcare organizations function, however managing provider data is rife with challenges and a strain on resources. Stemming from a myriad of sources with varying formats and quality levels, provider data has no single source of truth and is constantly changing as providers switch offices, stop practicing, or change their contact information. 81% of provider data entries in the top five national health plans have inconsistencies, 30% of provider information churns every year and commercial health plans spend an estimated $2.1 billion on provider data management annually. Compounding these challenges, many organizations rely on siloed, manual processes to attempt to manage their provider data, which can result in numerous downstream implications, including administrative inefficiencies, end-user friction, decreased competitiveness “ghost networks,” delayed and error-prone claims processing, and compliance and regulatory risk.
Ribbon Provider Data Platform allows healthcare enterprises to transform their provider data from an operational burden into a source of long-term business value. Unlike existing data or data management providers, Ribbon brings together provider data and advanced data management tools into one unified, comprehensive platform. The Provider Data Platform offers time-saving automation and a suite of interconnected features, including Ribbon Directory, Partner Data Marketplace, Data Integration, Master Data Management, Accuracy Scoring, and Data Views. Ribbon Provider Data Platform uniquely benefits primary care, care navigation, employee benefits, and health insurance organizations through access to:
- An expansive provider data asset including 99.9% of providers and healthcare facilities in the U.S., curated from thousands of sources using Ribbon’s proprietary AI models
- A growing ecosystem of data partners that enable “one-stop shopping” for provider data attributes, all on Ribbon’s platform
- Automated data ingestion and processing tools, reducing team time-spend on tasks like roster and data intake, data standardization, QA checking, and more by up to 95%
- AI-powered data accuracy tools to significantly improve provider data quality, resulting in a 90% increase in data accuracy
- Advanced master data management capabilities to easily centralize, manage and govern large, complex provider datasets with ease
“We first created Ribbon Directory to curate quality provider data, and we’ve since expanded it to meet the needs of large enterprises with proprietary data. The Ribbon team has lived the pain and complexity of working with provider data firsthand, and we’re thrilled to evolve our initial solution into a cohesive platform with extensive data management capabilities,” said Nate Maslak, co-founder and CEO of Ribbon Health. “Ribbon Provider Data Platform makes it easier for people to find the best possible care when they need it, and it empowers healthcare organizations to do more with their existing data, turning what used to be an operational headache into a source of business efficiency and value.”
Ribbon partners with healthcare organizations across the industry like HealthAdvocate, Firefly Health, Healthee, two of the top 5 national health plans, and more. The company aggregates provider data from thousands of sources and uses proprietary machine-learning models to clean and validate the data. The Provider Data Platform integrates with existing data sources and workflows via API, and a dedicated team provides customized support along the way. In the coming months, Ribbon will launch additional platform features and further expand its data partnerships. To inquire about implementing Ribbon Provider Data Platform or becoming a data partner, visit: https://go.ribbonhealth.com/try-now
About Ribbon Health
Ribbon Health partners with innovators to transform how healthcare decisions are made. Ribbon Provider Data Platform fuels and manages actionable provider information for healthcare enterprises, including insurances accepted, cost, quality, and experience. With Ribbon, healthcare enterprises can improve data quality, save resources and operational costs, and empower people to make the most informed decisions about their care by finding trusted and affordable providers. To learn more about Ribbon Health's suite of solutions, visit www.ribbonhealth.com or find us on LinkedIn.
