What You Should Know:
- 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.
Navigating Healthcare Data Challenges: Ribbon’s Innovative Provider Data Platform
Managing provider data is vital for healthcare organizations, as it underpins critical processes like claim payments, network design, and patient care. Yet, this task poses significant challenges and resource strains. Provider data, sourced from diverse origins with varying formats and quality, lacks a unified source of truth and faces frequent updates due to providers changing offices or contact information. In the top five national health plans, 81% of provider data entries show inconsistencies, with 30% of provider information changing yearly, leading to an estimated annual expenditure of $2.1 billion by commercial health plans on data management.
Further complicating matters, many organizations resort to fragmented, manual approaches to manage their provider data, leading to various downstream consequences such as administrative inefficiencies, user friction, formation of “ghost networks,” delays and errors in claims processing, as well as compliance and regulatory risks.
The Ribbon Provider Data Platform offers a solution for healthcare enterprises to convert their provider data from a burdensome operational task into a source of enduring business value. Unlike conventional data management providers, Ribbon consolidates provider data and advanced data management tools into a unified, comprehensive platform. This Provider Data Platform delivers 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.
“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 Provider Data Platform provides distinct advantages to primary care, care navigation, employee benefits, and health insurance organizations by granting access to:
1. A vast provider data repository encompassing 99.9% of providers and healthcare facilities in the U.S., meticulously curated from thousands of sources utilizing Ribbon’s proprietary AI models.
2. An expanding network of data partners facilitating streamlined access to provider data attributes within Ribbon’s platform.
3. Automated tools for data ingestion and processing, significantly reducing team time spent on tasks such as roster and data intake, data standardization, QA checking, and more by up to 95%.
4. AI-driven accuracy tools enhancing provider data quality, resulting in a remarkable 90% increase in data accuracy.
5. Advanced master data management capabilities simplifying the centralization, management, and governance of large, intricate provider datasets.
Ribbon collaborates with healthcare organizations across the industry, including HealthAdvocate, Firefly Health, Healthee, and two of the top 5 national health plans. The company aggregates provider data from numerous sources and employs proprietary machine-learning models for data cleansing and validation. The Provider Data Platform seamlessly integrates with existing data sources and workflows through API, with a dedicated support team offering tailored assistance. Ribbon plans to introduce additional platform features and expand its data partnerships in the near future.
