SAN FRANCISCO--(BUSINESS WIRE)--Clarify Health, a leading healthcare analytics and value-based payments platform company, today announced its inclusion in the Gartner Hype Cycle for U.S. Healthcare Payers, 2023 (July 2023) in the Price Transparency Analytics and Next-generation Value-based Payment (NGVBP) categories. Both technologies are in the “Innovation Trigger” stage of the Hype Cycle and are labeled as “High Benefit Rating.”
This is the third time this year that Gartner has included Clarify Health in a market analysis. In April, Clarify was named in the Gartner® “Quick Answer: U.S. Healthcare CIOs Use Price Transparency Data to Improve Business Outcomes,” (April 2023). In February, Clarify was named a Representative Vendor in the Gartner “Market Guide for U.S. Healthcare Payers’ Provider Network Management Applications," (February 2023) for its Clarify Networks and Clarify Rates products.
In the Hype Cycle for U.S. Healthcare Payers, 2023, Gartner analyst Connie Salgy notes, “Price transparency analytics is a new emerging technology and currently only a few vendors have overcome the machine-readable files’ (MRF) size and quality challenges to achieve market entry. The high business benefit is already attracting investment for both in-house capability development and vendor solution expansion. As such, we are introducing this innovation between the Innovation Trigger and the Peak. We expect early mainstream adoption as more solutions emerge with the time to plateau in two to five years.”
Clarify’s ability to make price transparency data useable has been the key to driving early adoption across healthcare payers and providers. In March, Clarify announced the release of its no-code query engine within its Clarify Rates, product, a price transparency intelligence software. Payers and providers can instantly query 500+ terabytes of enriched price transparency data via the software’s user interface and generate reports on market prices in seconds. The Clarify Rates product contains institutional and professional rates from over 65 national and regional payers, including United Healthcare, Cigna, Aetna CVS, Humana, and many Blue Cross Blue Shield (BCBS) payers, and is constantly adding new data as it is released, providing access to the most comprehensive and up-to-date rate intelligence on the market.
Price Transparency Analytics, such as Clarify Rates, help users negotiate fair and competitive rates with insights from the industry’s most meaningful rate intelligence, which links price transparency data to enriched claims data. Gartner states, “When ingested, normalized and enriched, the machine-readable files provide actionable insights to business stakeholders (e.g., product and provider networking and contracting teams) through analytics, reporting and dashboards. Healthcare organizations can use the data to improve their growth prospects and competitive positioning as these analytics deliver network, rate and benefit insights before provider and purchaser negotiation.”
While traditional value-based payment models have made minimal progress in driving down care costs due to cumbersome contracting and administration and insufficient physician engagement, NGVBP solutions, like Clarify Advance, use advanced analytics anchored in behavioral economics and data sharing to overcome these challenges. Providers are rewarded for delivering better patient outcomes and reducing unnecessary costs. In reference to this category, Gartner states, “NGVBP can model complex attribution scenarios, streamline data sharing, promote health equity and report performance in near real time. These capabilities built on VBP will improve the total experience of program participation and population health.”
“Enabling next-generation value-based payment models and price transparency analytics reflects the essence of our mission,” commented Jean Drouin, MD, founder and CEO of Clarify Health. “We are driven to power better patient outcomes and greater healthcare affordability and quality through our unique analytics solutions and value-based payment platform.”
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About Clarify Health
Clarify Health is an enterprise analytics and value-based payments platform company that empowers payers, providers, and life sciences companies to deliver better care, therapies, and outcomes with actionable patient journey insights. Clarify’s cloud-based business applications are built on the Clarify Atlas Platform, which maps 300M+ patient journeys to deliver 18B+ AI-powered predictions and surface insights with speed and precision. Clarify’s products illuminate actionable opportunities to drive growth, optimize networks, improve care delivery, manage population health, maximize value-based care performance, and bring therapies to market. With Clarify, healthcare organizations can leapfrog from point-solution and manual analytics to self-service, rapid generation of enterprise insights that light the path to better care and outcomes.