What is the Importance of a Health Management Network solution?

The intense financial pressures involved in the business and the need for increasingly complex contracts
have forced many companies that rely on a health management network to seriously consider using a
healthcare plan. That is why the NetworX Suite (a group of software applications) was developed to
provide claims pricing, total automation of modeling and execution of contracts, and all aspects of
network operations. NetworX Suite helps to maximize the value of the provider networks and contracts
by reducing the administrative costs. There are several benefits from using the NetworX Suite such as
reducing administrative and medical costs by adopting heightened network management automation.
Moreover, the NetworX Suite uses an English language-based interface (not a pseudo-code that makes
it easy accessible and understandable.) Furthermore, the NetworX Suite has two applications which are
the NetworX Modeler and the NetworX Pricer that allow for health network management. When
combined, these two applications allow for an auto-load of contracts that have been negotiated through
modeling solutions.

The Networx Modeler, when used during negotiations, allows for a precise illustration and projection of
the financial implications of contracts. It permits negotiation of optimized terms, quick forecasting of results,
and improvement of the financial outcome of the contract. Networx Modeler can reduce medical loss
ratio by as much as 0.2 to 1.0 percent through better contracts. In addition, it transports contracts
between two solutions which can thereby eliminate the rebuild of contracts to enter into a system. It can
also reduce the manual processes of modeling and analysis of contracts by as much as 50 percent more.

On the other hand, NetworX Pricer increases the speed, efficiency and accuracy of provider contract
administration, and automates claims pricing, in spite of the complexity of contracts. It supports greater
contract specification, sophistication, and processing speed whilst eliminating errors and inconsistencies in
claims pricing. Furthermore, when using Networx Pricer as reported, clients derive labor cost savings,
marked up to 50 percent.

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