For Immediate Release
Truven Health Analytics Releases EDGE Initial Validation Audit Solution for Health Plans
New Service Helps Issuers Meet ACA Requirement for EDGE Server Data Validation
Ann Arbor, MI, Dec. 16, 2014 — Truven Health AnalyticsTM announced today the release of an EDGE server Initial Validation Audit (IVA) solution that meets the Affordable Care Act (ACA) requirement for health plans to select a qualified IVA vendor before the current deadline of March 31, 2015.
According to the regulations, health plans must have certified coders review medical records for 200 random members selected by the Centers for Medicare & Medicaid Services (CMS) to ensure the data being sent for payment are accurate and complete. Plans must provide the associated medical records and claims, and are required to hire an independent auditor to validate the membership and risk adjustment information. Truven Health is an IVA-qualified vendor with a solution that meets these requirements.
The Truven Health EDGE Initial Validation Audit solution meets CMS requirements by providing health plans with certified coders to support every stage of the IVA process, including providing up-to-date detailed initial instructions, reviewing EDGE data files to ensure completeness and accuracy, performing chart reviews, and supporting the submission of final audit results. The Truven Health audit and compliance team has more than 20 years’ experience in auditing healthcare claims, and expertise performing claims reviews that include all of the major national insurance carriers and many of the nation’s most widely used third-party administrators. Their medical coders are certified by the American Health Information Management Association (AHIMA) or the American Academy of Professional Coders (AAPC).
"ACA compliance has been stressful for health plans, but this is one requirement that health plans can't, by virtue of the law, handle on their own." said Barb Graovac, senior vice president and general manager at Truven Health Analytics. "Because reviewing medical records is such a critical part of the validation process, health plans need to be careful to select a vendor with the right experience and certification, or they could be opening themselves up to risk."
The Truven Health EDGE team has been closely tracking with CMS on the EDGE and other exchange-related regulations and has a deep working knowledge of the ACA requirements. In addition to partnering with numerous health plans to submit EDGE server data in time to meet the CMS December deadline and processing records for 1 million members, our team of experts created reinsurance models and implemented the CMS do-it-yourself commercial risk model for health plan clients wanting preliminary reimbursement estimates.
Truven Health has claims databases containing 150 million lives, has been working with health plans for more than 20 years, and counts over 125 health plans, third-party administrators, and related organizations as customers. To learn more about the Truven Health Initial Validation Audit solution, visit http://truvenhealth.com/EDGE-IVA.
Truven Health Analytics an IBM Company, delivers the answers that clients need to help them improve healthcare quality and access while reducing costs. We provide market-leading performance improvement solutions built on data integrity, advanced analytics, and domain expertise. For more than 40 years, our insights and solutions have been providing hospitals and clinicians, employers and health plans, state and federal government agencies, life sciences companies, and policymakers the facts they need to help them make confident decisions that directly affect the health and well-being of people and organizations in the U.S. and around the world.
Truven Health Analytics owns some of the most trusted brands in healthcare, such as MarketScan®, 100 Top Hospitals®, Advantage Suite®, Micromedex®, Simpler®, ActionOI® and JWA. Truven Health has its principal offices in Ann Arbor, Mich.; Chicago; and Denver. For more information, please visit http://truvenhealth.com.