Axiom Contract Management solution best for managing contracts, claims and payments — one of many top rankings for Kaufman Hall
CHICAGO – June 17, 2019 – Kaufman Hall, a leading provider of enterprise performance management (EPM) software, data, and management consulting services, announced today that Black Book Market Research LLC ranked Axiom Contract Management the No. 1 Provider Contract Management & Optimization solution over a pool of 28 vendor competitors.
Axiom Contract Management provides modeling and analytics tools to help organizations manage contracts, claims, and payments — including predicting payments, leveraging data to strengthen payer negotiations, and estimating net revenue by patient. The solution is part of Kaufman Hall’s Axiom suite of performance management software for healthcare, which earned a total of three top rankings in Black Book’s unbiased user satisfaction surveys.
“In our line of work, there’s no greater accolade than client satisfaction, especially for Contract Management because it demonstrates our solution is effectively improving what were previously very painful, expensive manual processes,” said Kermit Randa, CEO of Kaufman Hall Software. “We’re committed to partnering with organizations to deliver the innovative solutions they need to successfully transition from fee-for-service to value-based payment models, and to turn their system data into information that guides action to improve costs and quality of care.”
Black Book’s rankings reveal the vendors most likely to help health systems struggling with manual contract tasks and fragmented contract processes, which cost health providers and systems nearly $157 billion per year. Feedback for the vendor rankings was provided by 1,275 CFOs, financial management and business unit software users.
“The shift to value-based care reimbursement is forcing financial leaders to implement technology solutions that automate contract tasks and streamline contract management procedures, ultimately leading to health system growth,” said Doug Brown, managing partner of Black Book. “Based on our client experience and product loyalty user scores, no solution empowers healthcare organizations to meet this need better than Axiom Contract Management.”
Ninety-six percent of American healthcare organizations report not having a contract management system or having a system that is outdated and inadequate to address value-based care, according to Black Book.
“Using Axiom Contract Management, we’ve been able to gain meaningful operational insights and payer adjudication defects using their contract modeling, payer compliance and contract simulation capabilities,” said Jermaine Paul, director of contract management and revenue cycle optimization at ATI Physical Therapy. “It helps us with our payment validation process where we compare our expected reimbursement calculations against the payer allowable, and arms us with the data needed to confidently challenge the insurance companies when adjudication errors are identified through our validation process. Kaufman Hall is a great team and this award is certainly well-deserved.”
The Axiom Healthcare Suite uses best practice methodologies to streamline processes, manage costs, model industry changes, enhance efficiency, and highlight variances in care. The software integrates enterprise planning, cost accounting, decision support, clinical analytics, contract management, and performance analytics to help hospitals, health systems, and physician practices take action and hold organizational leaders accountable for results.