Press release from Business Wire
3M Teams with TriZetto to Offer Grouping, Compliance and Payment Reform Methodologies to Commercial Payers
Thursday, May 15, 2014
3M Teams with TriZetto to Offer Grouping, Compliance and Payment Reform Methodologies to Commercial Payers09:34 EDT Thursday, May 15, 2014
SALT LAKE CITY (Business Wire) -- 3M Health Information Systems and TriZetto Corporation have signed a strategic agreement to provide optional integration of 3M grouping, edit, compliance and pay-for-outcomes logic into TriZetto's industry leading NetworX Pricer® and NetworX Modeler® solutions. When integrated, 3M software promotes timely compliance with federal and state government payment regulations and enables TriZetto's clients to implement programs that identify avoidable cost and reward efficiency, quality, and care coordination.
With this agreement, TriZetto customers will have the ability to perform inpatient hospital editing and grouping through the 3M All Patient Refined DRG (APR DRG) Classification System and Medicare Severity Diagnosis Related Groups (MS-DRGs). The agreement also provides editing, grouping and/or pricing for some outpatient hospital processes through the 3M Enhanced Ambulatory Patient Grouping System (EAPGS). Under the current agreement, NetworX clients have the option to work with TriZetto in expanding the offerings available to include 3M EAPGS or 3M Potentially Preventable Events, including Complications, Readmissions, Ancillary Services, Emergency Room Visits, and Hospital Admissions.
“Rules governing healthcare payment can change quarterly, monthly, even daily, so staying up-to-date can be crucial,” said Alan Stein, senior vice president, Solutions Management for TriZetto. “It's also important for commercial payers to focus on improving healthcare quality and efficiency using unique payment methodologies such as those created by 3M.”
3M's industry-leading content is created and maintained by a team of healthcare regulatory experts, including policy analysts, nosologists, physicians, registered nurses, certified coders, and reimbursement specialists. 3M proprietary methodologies are used to capture and analyze national and regional rule changes, and then to adjust or develop new edits and grouping technology.
Since 1983, 3M has focused on developing prospective payment systems that have revolutionized health care. Today, 3M supports grouping, editing and reimbursement configurations for over 50 federal, state, and commercial payer and reporting organizations implemented for payment, quality and public reporting.
Visit 3M Health Information Systems at www.3Mhis.com for more information about 3M payment methodologies.
About TriZetto Corporation
TriZetto Corporation provides world-class information technology and service solutions that help payers and providers work more efficiently and collaborate to deliver better health. TriZetto solutions touch over half the U.S. insured population and reach more than 230,000 care providers. TriZetto helps healthcare organizations enhance administrative efficiency; improve the cost, quality and delivery of care; address compliance; and compete to win in an emerging retail market. Payer solutions include benefits administration, care management, network management and portal platforms, as well as consulting, application management and business management services. Provider solutions include real-time eligibility assurance, claims editing, revenue cycle management technology and services that help providers get paid quickly and accurately. For more information, visit www.trizetto.com.
About 3M Health Information Systems
Best known for its market-leading coding system and ICD-10 expertise, 3M Health Information Systems delivers innovative software and consulting services designed to raise the bar for clinical documentation improvement, computer-assisted coding, performance monitoring, and quality outcomes reporting. 3M's robust healthcare data dictionary and terminology services support data interoperability and the expansion and accuracy of the electronic health record. With nearly 30 years of healthcare industry experience and the know-how of more than 100 credentialed 3M coding experts, 3M is the go-to choice for more than 5,000 hospitals, as well as government and commercial payers that want to improve quality and financial performance. www.3Mhis.com.
NetworX Pricer® and NetworX Modeler® are registered trademarks of TriZetto Corporation.
For 3M Health Information Systems
Price Houns Associates
Mollie Houns, 952-920-6951