Since joining Avaneer as founding CEO in the summer of 2021, I’ve had countless conversations with a wide range of people, our founding investors, many leaders at payer, provider, and innovative companies, curious tech futurists, and prospective investors. In the past few weeks, I have had the opportunity to speak with many at ViVE23 and Becker’s 13th Annual Meeting. It’s been encouraging to hear the positive response when I share Avaneer’s vision, which is founded on the idea of “Imagine if…”
Imagine if we had a healthcare ecosystem where health information could be shared freely, without hesitation, and in real time – where we could eliminate redundancies caused by a lack of confidence in shared information.
Imagine if we had a system where “right-time” claims adjudication was the norm, where claims are automatically examined against a payer’s criteria and processed in real time – without the need for a third party.
Imagine if a consumer could know confidently what their visit or procedure will cost, including their portion and exactly what their health plan will pay. Better yet, imagine if that consumer could leave their doctor’s office knowing their bill is paid in full because the claim from their doctor was adjudicated in real time at checkout.
Imagine if we had a system where coverage information is continually refreshed and, if issues arise, the data’s owners are automatically notified and the information is updated throughout the system.
We no longer have to “imagine if” because the Avaneer Health Network is now beginning to bring these scenarios to life today. On March 13th, we announced the launch of our new network and platform, with the first connections to CVS Health, Cleveland Clinic, Elevance Health, and Sentara Healthcare. The vision of Avaneer Health isn’t to simply streamline existing processes; it’s about completely reinventing the business of healthcare.
Chief Executive Officer
In This Issue
- A New Way Forward for Healthcare
- Reengineering the Business of Healthcare
- Inconsistencies Found in 81% of Provider Directories Across Large Health Insurers
- Avaneer Health’s Interoperable Network creates an ‘Information Highway’
- How a Network Empowers Innovation
Featured Avaneer Content
A New Way Forward for Healthcare
Imagine a healthcare ecosystem where payers, providers, and innovators can share data in real time through a single network—with a single connection. It’s a completely new way of doing business.
Administrative expenses account for approximately 15% to 25% of our nation’s total healthcare expenditures, representing an estimated $600 billion to $1 trillion annually.
– Health Affairs
Reengineering the Business of Healthcare
Have you ever wondered what it would be like to be able to connect to all your trading partners without having to build or maintain separate connections for each one? Where real-time adjudication is the norm and where prior authorizations could be completed in minutes instead of days (or weeks)? Where payers, providers, and innovators could collaborate on a single network and build and deploy solutions on a single platform? That’s the topic of this insightful and forward-thinking article.
Read the article
Inconsistencies Found in 81% of Provider Directories Across Large Health Insurers
Research into more than 600,000 physician entries in online directories of UnitedHealth, Elevance, Cigna, Aetna, and Humana found vast inconsistencies in provider information. Why does this matter? Researchers suggested that “Beyond surprise billing, inaccurate physician directories can lead to delays in care due to difficulty finding the correct physician, challenges in regulators assessing health insurer network adequacy, and misrepresentation of network depth and breadth as consumers select health plans.” Learn how this issue can cost the industry billions each year.
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Avaneer Health’s Interoperable Network Creates an ‘Information Highway’
Healthcare Finance News
How can an information highway transform healthcare? By eliminating fragmented data silos, numerous point-to-point connections, layers of technology debt, incomplete information, and manual processes. Get the perspectives of Jamisson Fowler, chief digital officer, Sentara Healthcare; Sherif Kamel, senior vice president of enterprise delivery at CVS Health; and Sonja O’Malley, senior director of Innovation at Cleveland Clinic.
Read the article
From the Avaneer Blog
How a Network Empowers Innovation
The healthcare industry is brimming with innovation. New companies enter the market every day with ideas and solutions that could bring vast improvements in both care quality and administrative efficiencies. Unfortunately, many of these companies exit the market before they have a chance to make meaningful contributions. This blog explores the challenges and opportunities and offers a new way forward that would make it easier for innovators to deploy their solutions at scale.
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