KLAS looks at early vendor performance in the growing payvider market

One-third of the payvider market talks to KLAS about their vendors

Although provider-owned health plans (payviders) are not new, a growing number of healthcare providers are jumping into the space. KLAS spoke to 44 organizations in the payvider market to understand which vendors are seen as crucial to their success, which vendors create the most positive impact, and which vendors are seen as causing the most buyer’s remorse. The results are published in a new report entitled “The Emerging Payvider Market: Which Vendors Matter Most?”

Of the 59 vendors referenced by payviders, only nine were commonly referred to as being critical to success and growth. Topping the list is TriZetto (now part of Cognizant), followed by DST Systems, Epic and McKesson. TriZetto, DST Systems and Epic are noted by clients for their strength in core claims/administration platforms, while McKesson is praised for their claims editing and auditing suite.

“The payvider market is now being inundated with accountable care organizations (ACOs) and new risk-sharing arrangements,” said Joe Van De Graaff, KLAS research director and report author. “Based on these new partnerships and with an eye focused on outcomes, healthcare organizations are looking for innovation and help from vendors to satisfy health plan needs and functions.”

Payviders, citing the need for innovation and stronger vendor solutions, call out 32 different vendors whom they would replace if they could. Key reasons for the buyer’s remorse with these vendors include stagnant product development, subpar support and high cost.

Go here to access the report summary for “The Emerging Payvider Market: Which Vendors Matter Most?”

About KLAS
KLAS is a research and insights firm on a global mission to improve healthcare delivery by amplifying the provider's voice. Working with thousands of healthcare professionals and clinicians, KLAS gathers data and insights on software, services and medical equipment to deliver timely reports, trends and statistical overviews. The research directly represents the provider voice and acts as a catalyst for improving vendor performance. Follow KLAS on Twitter.