AURORA, Ill.--(BUSINESS WIRE)--Simplify Healthcare, a leading healthcare Payer technology company, announced that it has been positioned in the Leaders Category in the 2023 IDC MarketScape for U.S. health plan product/plan benefit configuration solutions (doc #US50826823, June 2023). The vendors included in this study supply standalone product/plan configuration solutions to Payer and TPA organizations, whether supporting commercial or governmental (Medicare and Medicaid) plans.
This IDC MarketScape study provides an evaluation of five vendors that provide Payer solutions for product/plan configuration. According to the study, vendors should, “Consider Simplify Healthcare if you are a Payer looking for a cloud-native platform to enable connected benefits and provider journeys. Simplify Healthcare provides a comprehensive solution.”
According to the report:
- “The Simplify Health Cloud architecture enables Payers to achieve end-to-end digital transformation of their benefits, provider, and VBR journeys to reduce time to market in new product and benefit design, eliminate compliance errors with CMS and DOI, generate mandated and marketing materials automatically, elevate stakeholder experience, enable accurate, timely claims processing, and improve membership retention, membership growth, and operational excellence.”
- “All solution sets — Benefits1™, Service1™, Claims1™, Experience1™, and Provider1™ — have a high degree of reusability since they are all powered by common architectural capabilities of the Simplify Health Cloud platform such as design studios, digital source, and document generation module.”
- “Simplify Healthcare has a patent-pending stack that breaks down the claims construct into reusable components and then, via translators and transmitters, generates the product data in the native claims format. Each claims target environment is different, so there is a lift of implementation for every integration.”
- “The company's platform supports 508 compliance and print-ready formats to accelerate the path to fulfillment for Payers. The company claims that the platform has managed 147 distinct types of documents and generated millions of documents across 47 Payers.”
“We believe the recognition from the IDC MarketScape validates our strategic focus on specialized areas like benefit plan management, underscoring our deep understanding, and success in this space. We also believe our solution empowers Payers to achieve remarkable outcomes, streamlining time-to-market for new product designs, and ensuring compliance with regulations while revolutionizing the way they operate in the healthcare industry.” — Mohammed Vaid, CEO and Chief Solution Architect, Simplify Healthcare.
“We believe being named to the Leaders Category in the IDC MarketScape has recognized the value we provide to Payer, TPA, and ASO operations. Through our transformative platforms, we continue to enable Payers to serve their members, providers, brokers, prospects, and employer groups with timely and innovative product, benefits, and provider information.” — Vinay Nadig, Chief Strategy Officer, Simplify Healthcare.
About Simplify Healthcare
Simplify Healthcare powers connected benefits and provider journeys for Payers through a scalable, enterprise-grade, secure, compliant, and configurable cloud based software platform — Simplify Health Cloud™. Packaged on the Simplify Health Cloud™ — Benefits1™, Provider1™, Service1™, Claims1™, and Experience1™ provide Payers with discrete and precise solutions to complex problems and opportunities in delivering a rich set of product, benefits, and provider data.
For more information, please visit simplifyhealthcare.com
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About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
