LYNDHURST, N.J.--(BUSINESS WIRE)--In a major strategic move, Vitals announced the formation of a new division, Vitals 360. This new division will focus on developing and advancing innovative data, quality and predictive analytics technologies to extend Vitals’ cost and engagement solutions, as well as to establish new capabilities that enable health plans to execute on their provider network strategies more effectively and efficiently.
Network strategy is at the heart of any health care payer organization. Getting it right means that the health plan can offer cost-efficient, quality providers that benefit its members and their bottom line. Getting it wrong can cost the health plan and its members significant amounts of money.
Vitals 360 will leverage data and analytics to support the ability of plans to be able to negotiate competitive rates, select the best-value providers, highlight the highest-quality providers with the best outcomes, get members shopping, predict shopping behavior, keep members in network and provide administrative technologies to support bundled payments.
Currently, Vitals’ enterprise solutions support and enable sophisticated tiered network designs for its clients, who want to encourage consumers to use high-quality, low-cost providers. In just the last four years, Vitals SmartShopper has saved employers over $56 million and paid almost $7 million in cash incentives to employees.
“The establishment of the Vitals 360 division expands Vitals’ position as a leader in cost transparency and engagement,” said Heyward Donigan, President and CEO of Vitals. “We are setting the standard for innovative consumer engagement programs, fueled by data and analytics.”
Chris Henderson has been named President of the newly formed Vitals 360 Division. As a former health plan executive and entrepreneur, Henderson’s primary responsibility will be developing innovative approaches and technologies related to network quality, data analytics, predictive modeling, bundled payment and clinical strategies.
“This is an important strategic step for Vitals,” said Henderson. “I’m excited to lead this new division and expand our business into areas that provide substantial new value to health plans, employers and consumers.”
Vitals empowers everyone to shop for their health care like an expert. Our integrated high-tech, right-touch platform helps people select better, more affordable care. Vitals leads the market with incentive and engagement programs proven to drive new levels of activation. Our solutions achieve measurable and sustainable savings for consumers, employers and health plans. Over 280 million people each year rely on Vitals to help them decide on their care with confidence.
Follow us on LinkedIn.