June 18, 2008
Kryptiq’s Choreo Suite Brings Automation and ROI to CareSource Management Group
Kryptiq, the leading provider of next generation healthcare connectivity solutions, today announced that CareSource Management Group, a leading nonprofit public-sector managed care company and the largest Medicaid HMO in Ohio, has successfully implemented Kryptiq's Choreo(TM) Suite. CareSource is utilizing the Choreo Suite to streamline how the organization serves its more than 657,000 members and providers. This implementation has increased CareSource's contracting and workflow efficiency and improved language compliance, while maintaining a complete audit history. These efficiencies have created a 50 percent reduction in contract development time and savings of more than $10,000 for every 500 contracts created.
"Since implementing Kryptiq's Choreo Suite, we've quickly realized savings from automating our systems," said Salli Duncan, vice president of network operations at CareSource. "The most significant impact of Choreo, in addition to instant access to critical contract information, has been the dramatic improvement in how our contract managers work with providers."
Many healthcare payers still suffer from the limitations of paper-based systems in the management of their provider contracts. In the United States alone, more than 1,000 healthcare payers create and maintain contracts with anywhere from 500 to 100,000 providers. These paper contracts create huge volumes of paper, extend provider enrollment timelines and generate unnecessary business risks for organizations such as CareSource, where contracts with providers, hospitals and ancillary service providers are created and amended each year.
"The reliance on paper-based processes and lack of data mobility are at the heart of the cost and quality issues in the healthcare industry," said Luis Machuca, president and CEO of Kryptiq. "With Choreo, CareSource is experiencing the benefits of automating and optimizing its provider network management processes and now has a foundation for enabling information transparency across its organization."
"An important goal for CareSource is balancing the increasing needs of our fast-growing company, while continuing to ensure provider satisfaction," said Duncan. "Choreo enables us to meet healthcare compliance and security needs, while enabling us to be a more flexible and dynamic organization ready to face changing market demands."
About CareSource Management Group
CareSource Management Group offers a full spectrum of services for the administration of public-sector health care programs. Among these services are general administration, including claims processing, case and medical management, provider relations, decision support informatics, quality improvement and regulatory compliance; member services, including a member call center and 24-hour nurse advice line; and financial consultation and turn around. CareSource Management Group also provides services to nonprofit managed care plans that serve more than 657,000 Medicaid consumers in Ohio and Michigan. For more about CareSource Management Group, visit www.csmg-online.com.
About Kryptiq Corporation
Kryptiq is the leading provider of next generation healthcare connectivity solutions, enabling healthcare providers and health plans to utilize and share vital information effectively. Kryptiq's award-winning Connect IQ(TM) and Choreo(R) solutions are being adopted by many of America's top providers, health plans, and leading healthcare IT vendors to achieve new levels of mobility, accessibility, and visibility to critical information. For healthcare providers, Kryptiq's Connect IQ product suite revolutionizes collaborative care. Connect IQ establishes the secure connectivity and system interoperability necessary to streamline information sharing among healthcare professionals, their colleagues, and patients they serve. Uniquely designed for health plans, Kryptiq's Choreo product suite transforms provider contracting and network management processes. Choreo provides the information transparency and process automation necessary to competitively grow and manage provider networks.
Many of the nation's top health plans and providers rely on Kryptiq and Kryptiq's strategic partners and relationships, including GE Healthcare, Microsoft, Sage Software, and The TriZetto Group, to improve business and enhance care. Organizations such as Providence Health System, MedStar Health, Village Health Partners, MeritCare Health System, BlueCross and BlueShield of Minnesota, and The Regence Group turn to Kryptiq's proven solutions for healthcare transformation to improve workflow, gain unparalleled access to information, and foster greater collaboration and communication among health plans, health care providers and consumers. For more information on the company, visit http://www.kryptiq.com/.