Â Summit, N.J.-based Premier Healthcare Exchange Inc. (PHX), a provider of integrated, automated healthcare cost containment solutions, has completed the beta testing program and planned upcoming launch for XPERT CONNECT, an integrated suite of in-house tools and services for healthcare cost containment.
According to the company, XPERT CONNECT analyzes over 90 percent of all claims processed through a single file extract ? helping to eliminate errors while decreasing expenses. For PHX's beta customers, this resulted in an average administration cost reduction of $1.83-$2.79 per claim, (based on claim system), according to PHX.
In the first six months of beta tests, PHX stated that it processed 11 million claims, representing $2.6 billion of charges. At various stages of the claims process, customers achieved a discount of 9 percent overall improvement across the total daily annualized volume of medical billed charges incurred by a health plan. PHX stated that XPERT CONNECT identified over $200 million in savings.
PHX plans to launch XPERT CONNECT for general availability by the end of the first quarter.
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