28 Oct SYRTIS SOLUTIONS BECOMES ACAP PREFERRED VENDOR
Syrtis Solutions, a leading provider of real-time Other Health Insurance (OHI) coverage information for payers of last resort, recently accomplished a notable milestone by being designated a preferred vendor for the Association for Community Affiliated Plans (ACAP). This achievement is a reflection of Syrtis Solutions’ commitment to decreasing costs and improving operational efficiency for government-funded health plans.
The Value of Cost Avoidance in Medicaid
The Medicaid landscape is complicated and constantly evolving, with state and federal guidelines mandating strict cost-control measures to secure the program’s sustainability. One of the key strategies for managing costs in Medicaid programs is avoiding improper claims payments, which involves identifying third-party liability (TPL) and ensuring that Medicaid is the payer of last resort.
Without effective cost avoidance mechanisms, Medicaid programs can suffer from unnecessary expenses, driving up costs and redirecting resources away from other vital healthcare needs. This is where Syrtis Solutions has been making a significant impact.
Syrtis Solutions: Leaders in Real-Time Cost Avoidance
Established in 2008, Syrtis Solutions has been at the leading edge of developing innovative solutions to deal with the challenges of OHI identification and cost avoidance. Their flagship product, ProTPL, is a real-time pharmacy cost avoidance solution that provides Medicaid and other government-funded health plans with immediate access to actionable data. By instantly identifying whether a member has other insurance coverage, ProTPL helps plans avoid paying for claims that should be covered by a liable third-party payer. This not only helps Medicaid plans comply with federal regulations but also significantly reduces the time and effort required to manually identify third-party insurers and recover costs retroactively.
What It Means To Be An ACAP Preferred Vendor
ACAP is a national trade association that represents 78 nonprofit Safety Net Health Plans, covering more than 25 million individuals through Medicaid, Medicare, and other public health programs. ACAP’s Preferred Vendor program is designed to highlight companies that offer valuable services to member health plans and have a proven track record of improving the quality and efficiency of care.
By becoming an ACAP Preferred Vendor, Syrtis Solutions has joined an elite group of companies that have exhibited a strong commitment to serving community health plans. This designation demonstrates Syrtis Solutions’ expertise and reliability in the Medicaid space, as well as its dedication to helping ACAP member plans improve cost-avoidance efforts.
Looking Ahead
As healthcare costs continue to increase and Medicaid plans face increasing pressure to control expenditures, the role of payment integrity will only grow in significance. With its newly cemented status as an ACAP Preferred Vendor, Syrtis Solutions is well-positioned to help all payers of last resort get through these challenges, making certain that limited healthcare dollars are used efficiently and effectively.
Syrtis Solutions‘ innovative real-time cost avoidance technology, combined with its proven expertise, offers an essential resource for Medicaid plans seeking to enhance their operational efficiency and reduce unnecessary spending. This partnership marks a significant step forward in improving Medicaid cost management and patient care across the country.