MedRisk announces its new workers’ compensation cost-containment service model, NexGen Advantage.

According to a media release from the King of Prussia, Pa-based company, NexGen Advantage is a single solution that uses analytics and technology to identify and deliver the best combination of strategies to ensure accurate and fair medical payment of individual bills.

“NexGen leverages the buying power of a mega network with more than 900,000 providers, an incredibly powerful data analytics system, and expert clinical intervention to capture additional savings after bill review, make payers’ lives easier, and improve provider partnerships,” says Mary O’Donoghue, MedRisk’s chief product development officer, in the release.

NexGen Advantage runs a payor’s bill data through an analytic that examines a number of factors, including jurisdiction, bill type, facility, and provider type. It then program determines where a preferred provider organization is most effective and where other cost-containment strategies are best for all parties.

“NexGen Advantage supports a partnership between payers and providers by delivering full transparency for fair and appropriate payment,” O’Donoghue adds in the release. “This is particularly important as the industry looks toward building stronger, outcomes-oriented networks.”

[Source(s): MedRisk, Business Wire]