Gartner Selects ID Experts as “Cool Vendor” for Healthcare Payers in 2014
MIDAS, First Member-Focused Fraud Alert System, Highlighted As Innovative Technology
PORTLAND, Ore., May 6, 2014 /PRNewswire/ – ID Experts and its medical identity alert system MIDAS, have been selected by Gartner, Inc. as a “Cool Vendor for Healthcare Payers in 2014.” The annual “Cool Vendors” recognition is awarded to select organizations with innovative technologies and business models, representing new directions in the market.
The Cool Vendors for Healthcare Payers 2014 report features companies with pioneering healthcare solutions. Jeff Cribbs, Gartner’s principle research analyst and author of the report, states that MIDAS “represents a low-cost, high-consumer-engagement tool that can not only help foster good relationships with members, but also save money by stopping payments for claims and services that are not valid.”
MIDAS answers some of the most pressing issues facing the healthcare industry today– healthcare fraud, member engagement, and cost control. MIDAS is the first “alert-driven” software for healthcare payers that empowers members to monitor their own healthcare transactions, take control of their medical identities, and fight healthcare fraud and medical identity theft.
The Gartner report further adds, “The Company [ID Experts] has built a solid reputation as a data breach solution provider with a primary goal of proactively helping to reduce healthcare fraud by empowering individuals. The introduction of the company’s new Medical Identity Alert System (MIDAS) product–the first of its kind for the healthcare market – holds the potential to achieve this goal.”
How MIDAS Works
MIDAS uses text messages and emails to alert plan members directly when a healthcare transaction is submitted. Members can then validate the transaction or mark it as “suspicious” enabling the MIDAS team to quickly follow up. If fraud or medical identity theft has occurred, MIDAS leverages ID Experts’ proven resolution process to diagnose the problem, resolve the issue, and mitigate any harm. More information on MIDAS is available at www2.idexpertscorp.com/MIDAS.
“Healthcare fraud and medical identity theft are affecting consumers at an alarming rate, with medical identity theft up nearly 20 percent, affecting 1.84 million consumers, according to the Ponemon Institute’s 2013 Survey on Medical Identity Theft,” said Christine Arevalo, vice president, Healthcare Fraud Solutions at ID Experts. “This recognition from Gartner further validates the need for and the potential in empowering consumers to manage their healthcare relationships and medical identities to reduce fraud, waste and abuse in the health system.”
About ID Experts
ID Experts provides software and services for addressing risks associated with data breaches and identity fraud. The award-winning MIDAS (medical identity alert system) product takes an innovative approach to addressing the growing national issue of healthcare fraud, by enhancing the payer’s ability to engage consumers in fighting fraud. Exclusively endorsed by the American Hospital Association, ID Experts is an advocate for privacy and a leader contributor to legislation and industry organizations that focus on protecting the privacy of the American public. On the web: http://www2.idexpertscorp.com/.
SOURCE ID Experts