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Palo Alto, CA, United States, 2007/12/11 - Based on its recent analysis, Frost & Sullivan has selected Enclarity, Inc. as the recipient of the 2007 Global Frost & Sullivan Healthcare Information Technology Product of the Year Award.
The Award recognizes Enclarity’s unique ProviderPoint® solution, designed to enable health insurance payers to maintain correct, current and comprehensive provider records.
“Health insurance payers are continuously challenged to maintain accurate and complete provider information,” notes Frost & Sullivan Research Analyst Matthew Guldin. “Further adding to this complexity is the fact that most health insurance payers store their provider information on multiple legacy systems that are incompatible with one another. This makes it nearly impossible for a health insurance payer to maintain an enterprise-wide master provider database.”
Enclarity has met this need by taking existing provider demographic, key identifier and other provider information from various sources. It analyzes the information using automated analytic and scoring techniques, and if necessary can supplement it with semi-annual phone calls in order to provide the most accurate information.
Through its ProviderPoint solution, Enclarity has the ability to leverage its accumulated provider data and automatically cleanse, augment and verify a health insurance payer’s provider records in real or near real time frequency or on a monthly or quarterly basis via a remote connection. This assures the information remains correct, current and comprehensive.
The ProviderPoint solution immediately results in a series of operational improvements for a health insurance payer including a reduction in pended claims, a reduced number of member and provider phone calls related to physician directories as well as a dramatic drop in the number of paper checks that must be reissued to providers.
According to Enclarity, the adoption of the ProviderPoint solution has resulted in as much as a $10 million dollar administrative savings to a single health insurance payer.
“By offering the ProviderPoint solution via a hosted or ASP method, Enclarity is able to ensure that all of a health insurance payer’s provider records are updated in a systematic and convenient fashion,” says Guldin. “The value of the ProviderPoint solution has been widely recognized in the health insurance payer industry, and is now being utilized by 15 of the nation’s largest health payers.”
Recognizing its unique effort to address an unmet need of health insurance payers and its desire to create increased transparency among health insurance payers, Frost & Sullivan proudly presents Enclarity, Inc. with its 2007 Global Excellence in Healthcare Information Technology Product of the Year Award.
Each year Frost & Sullivan presents this Award to the company that has introduced a product into the market that is significant and provides a competitive advantage to its adopters. This Award recognizes the company’s new product and its innovation, acceptance and competitive advantage in the marketplace.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Enclarity, Inc.
Enclarity® (enclarity.com) is the most trusted source for information about healthcare providers. The company delivers correct, current and comprehensive information solutions that make it easy for its clients to make smarter decisions, work more efficiently and improve operational results. Named one of the Top 100 private technology companies in North America by Red Herring magazine and awarded the Global Healthcare Information Technology Excellence Award by Frost & Sullivan, Enclarity is headquartered in Aliso Viejo, Calif. Enclarity’s investment partners include Bain Capital Ventures and Ignition Partners.
About Frost & Sullivan
Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.