Innovative solution simplifies value-based contracting and scenario modeling, fostering sustainable, mutually beneficial arrangements.
EAST WINDSOR, N.J., Jan. 7, 2025 /PRNewswire/ — SpectraMedix, a leader in advanced analytics and technology solutions for value-based payment (VBP) models, announces that its VBP Contract Modeler now supports the broadest portfolio of value-based contracts in the industry. Already utilized by health plans and health systems in over 20 states, this expansion reinforces SpectraMedix’s commitment to driving the adoption of sustainable and impactful value-based contracts.
The enhanced SpectraMedix VBP Contract Modeler enables users to automate the modeling and development of diverse value-based contract models spanning pay-for-quality (P4Q), shared savings, shared risk, and capitation across all lines of business. By streamlining contract design and simulation, SpectraMedix empowers health plans and health systems to test scenarios and explore different risk-sharing and payout structures to construct value-based contracts that align with their unique objectives and drive meaningful results.
“Over the past five years, the SpectraMedix VBP Contract Modeler has become the gold standard for actuaries and contracting teams, enabling health plans and health systems to critically evaluate, develop, and negotiate the next generation of value-based contracts,” said Raj Lakhanpal, MD, CEO of SpectraMedix. “Our solution empowers clients to simulate performance across various contract types and scenarios, helping them build sustainable arrangements that offer the right balance across quality, cost, utilization and risk—ultimately benefiting their providers and the populations they serve.”
An Integrated Solution for Value-Based Arrangements
The VBP Contract Modeler is seamlessly embedded in the SpectraMedix VBP Platform, providing an all-in-one solution encompassing AI-powered analytics, contract modelling and settlement, and provider enablement tools. This comprehensive solution supports strategic decision-making across commercial, Medicare and Medicaid markets, helping health plans and health systems unlock the full potential of their value-based arrangements. For more information on the SpectraMedix VBP Contract Modeler or the SpectraMedix VBP Platform, visit https://www.spectramedix.com/spectramedix-value-based-platform.
About SpectraMedix
SpectraMedix delivers the complete picture of value-based performance to drive operational excellence and accelerate performance improvement for health plans and health systems across the spectrum of value-based contracts. Our comprehensive, end-to-end platform empowers organizations with transparency into financial performance, quality, risk and utilization to help them establish trust with providers, maximize revenue and scale their value-based arrangements. For more information, visit www.SpectraMedix.com.
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SOURCE SpectraMedix
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