Plano, TX, August 19, 2024 – Health Chain, a leading innovator in healthcare technology, proudly announces its recognition as a Sample Vendor in the Gartner Hype Cycle for U.S. Healthcare Payers, 2024, in the category of Next-Generation Value-Based Payment (NGVBP).
Next-generation value-based payment models reward quality and cost-effective healthcare, integrating real-time clinical data, claims data, social determinants of health (SDOH) and more to promote equity and improve health outcomes. These models enable data interoperability, foster member engagement, set clear performance benchmarks, and mandate timely reporting. As highlighted by Gartner analyst Roger Benn, “NGVBP leverages advanced data and analytics (D&A) to streamline data sharing, promote health equity, and report performance in near real time. This innovative approach aims to enhance health equity, improve care quality and outcomes, and reduce healthcare costs by prioritizing preventive care and chronic disease management.”
The Hype Cycle for U.S. Healthcare Payers is an essential tool for understanding the maturity, adoption, and business impact of emerging technologies and practices. It guides payers in making informed decisions about technology investments, ensuring they are well-positioned to capitalize on innovations that can drive operational efficiency and improve member outcomes.
NGVBP is crucial for payers because it aligns financial incentives with the quality of care provided, rather than the volume of services rendered. This approach aims to improve member outcomes and reduce healthcare costs, addressing issues of inefficiency and inequity in the current system. However, payers face significant challenges in implementing NGVBP models, such as data silos, interoperability issues, and the administrative burden of managing complex payment structures. According to a report by the Health Care Payment Learning & Action Network, only 40% of healthcare payments were tied to value-based models in 2020, indicating the need for more widespread adoption and effective implementation strategies.
Health Chain’s flagship products, Centaur Data Platform and the Health Data & Interoperability Gateway (HDIG), play a crucial role in empowering Next-Generation Value-Based Payment models. Centaur is designed to securely democratize access to clean and usable member data in order to inject real-time longitudinal member records into use cases such as NGVBP. It ingests data from various sources and formats, curates it for consumption, and converts it to FHIR to provide access to standardized data and support interoperability. HDIG provides payers with a standard data consumption platform to support downstream use cases such as NGVBP.
Centaur makes data available from all sources (both FHIR and non-FHIR), ensuring member records are real-time, comprehensive and comprised of high quality data. HDIG takes this a step further by making the data accessible within payers’ native applications and third-party applications, facilitating seamless data exchange and integration. This accessibility is critical for NGVBP, as it allows Payers to efficiently utilize the data for performance measurement, reporting, and decision-making processes, thereby enhancing care coordination, improving member outcomes, and reducing healthcare costs.
“Data is the backbone of NGVBP models,” explained Sudheen Kumar, CEO of Health Chain. “without accurate, interoperable, and timely data, payers cannot effectively measure performance, manage costs, or engage providers and members. Centaur and HDIG are designed to address these challenges by providing a comprehensive solution for data ingestion, curation, and interoperability. This empowers payers to implement NGVBP models that enhance health equity, improve care coordination, and reduce costs.”
Gartner Disclaimer
Gartner, Hype Cycle for U.S. Healthcare Payers, 2024, Mandi Bishop, Austynn Eubank, Connie Salgy, 29 July 2024. GARTNER and HYPE CYCLE are registered trademarks and service marks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose
About Health Chain
Health Chain, a health data technology innovator founded in 2019, connects Members, Health Plans and Providers. Our FHIR®-enabled health data management platform ingests, normalizes, curates and ultimately applies clinical, claims, demographic, provider and other data to accelerate time to insights, optimize health care delivery and improve member outcomes.
We make comprehensive, universal longitudinal member records accessible across the health care continuum to enable more connected care journeys driven by data.
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