What You Should Know:
– Olive, the automation company creating the Internet of Healthcare, today announced its partnership with Magenta Care Continuum, a HIPAA-compliant health records vault that includes care gap analytics.
– Through the Olive Library, payers and providers can access Magenta’s solutions to help close care gaps, improve billing and claims occurrence and ensure compliance and revenue integrity for value-based population management.
Automating the Risk Adjustment Process
Inaccurate coding practices among Medicare Advantage plans can significantly contribute to spending disparities and care gaps among plan beneficiaries. Poorly documented patient information translates to less reliable risk score calculations and misrepresentation of their members’ health needs. Yet, data assurance can be a tedious process, requiring staff to manually parse through and update patient records.
Magenta is an Olive Ventures portfolio company that automates the risk adjustment process. Through a combination of analytics and blockchain-based permissioning, Magenta’s goal is to bridge potential gaps in care and spending disparities among Medicare Advantage plan beneficiaries by granting payers and providers access to medical records. Magenta ensures efficiency and accuracy throughout the care continuum and analyzes the resulting connected records for care gaps and potentially missed diagnoses. Magenta automates manual authentication processes for record requests to ensure efficiency and accuracy throughout the care continuum and analyzes the resulting connected records for care gaps and potentially missed diagnoses.
“Correct medical coding is imperative for proper risk adjustments, which are critical for getting Medicare Advantage beneficiaries comprehensive care,” said Rick Adam, CEO of Magenta Care Continuum. “Teaming up with Olive to securely and accurately integrate multiple EHR and claims data sources into single, consolidated records will help patients get the right care when and how they need it most.”