Many payors are burdened with extensive workarounds they must develop to manage non-standard terms that are pervasive in their provider network contracts. Building on McKesson’s unparalleled knowledge of issues affecting claims performance, gained through 20 years of partnering with payors, McKesson developed Contract Symphony™ to give you the right tools to standardize, automate and streamline your entire contracting process — from initiation through negotiation to renewal. Contract Symphony can help you save as much as $1.50 per member per year as a result of more efficient contracting processes, transparent payment policies, and fewer claims that require manual intervention.

Contract Symphony standardizes medical policy terms and payment rules, giving network managers the ability to set accurate expectations in the first conversation with a provider. It automates feedback and approval processes so that managers may quickly understand the interpretation of contract terms, rates and conditions. Contract Symphony facilitates evaluating how these variables will affect the cost of doing business, so the entire organization understands the implications of a negotiation before decisions are finalized.

Benefits

• Contract Symphony pre-defines and maintains standard contract terms, providing network managers with easy access to pre-approved content while negotiating with providers.

Eliminates redundant data entry

• Reimbursement schedules are centrally managed in Contract Symphony, so network managers know which contract terms can be automated – before opening conversations with providers. Payors and providers will have a common understanding of medical policy definitions, and the implications of non-standard contract provisions. Users can export fees and rates to the claims processing system, eliminating the manual retyping that often leads to errors and claims rework.

Captures the essence of a contract

• Automatic contract versioning, streamlined review and approval processes, and the ability to track all contract negotiations from end-to-end, give insurers full control of the contracting processes. Contract Symphony retains all the versions of a contract, capturing the essence of the negotiation process and simplifying subsequent auditing processes.

Reduces administrative expense

• Contract Symphony’s clear definition and rating of contracting terms make it possible for providers to easily understand – during the contracting process – when and how they will be paid, reducing the number of calls to provider relations.

Secures access to information

• The central repository contains medical and reimbursement policies, rate and fee schedules, other detailed contract data, current and in-process contracts, so that key constituents across the organization have secure access to a range of information they need for activities such as configuration management, provider relations, cost-of-living adjustments, and contract expirations.