McKesson's Provider Contracting Solution Now Available for Health Plans

“Our customers communicated there are incredible challenges managing the provider-network contracting process, challenges that impact provider relations as well as operations and can result in manual data entry and errors,” said Jeffrey Springer, director of contract management, McKesson Health Solutions. “As health plans try to implement and manage ambiguous or inconsistent contracts, missed renewal dates, and the labor intensive entry and review processes, they are incurring significant costs,” Springer said. “Contract Symphony automates the entire contracting process, improving a health plan’s efficiency and engendering better provider-relations; improvements that directly impact the insurer’s bottom line,” Springer added.

Health plans will benefit from the Contract Symphony comprehensive workflow tools that manage versions, streamline the review and approval process, and provide the ability to track all contracts throughout the development and negotiation phase. A central repository, the single source of truth maintains rate and fee schedules. Centralized maintenance of rate and fee schedules enables easy export to claims processing, eliminating the manual retyping that often leads to errors and rework. With configurable contract standardization, plans can build user-defined standard contract sections that network managers can download during negotiations. Reporting keeps management informed on the status of every contract in the system.

McKesson is committed to new, diverse solutions to help insurers meet performance and operational objectives, of which Contract Symphony is a key component. Health plans may consider and evaluate a broad array of McKesson solutions to help manage their complex business environment. “McKesson is ready to help payor clients manage their day-to-day operations, provider contracting processes, and execute their organizations’ long term business objectives,” said Carolyn Wukitch, senior vice president and general manager, McKesson Health Solutions

About McKesson McKesson Corporation (NYSE:MCK), currently ranked 16^th on the FORTUNE 500, is a healthcare services and information technology company dedicated to helping its customers deliver high-quality healthcare by reducing costs, streamlining processes and improving the quality and safety of patient care. Over the course of its 173-year history, McKesson has grown to provide pharmaceutical and medical-surgical supply management across the spectrum of care; healthcare information technology for hospitals, physicians, homecare and payors; hospital and retail pharmacy automation; and services for manufacturers and payors designed to improve outcomes for patients. More than 600 health insurers rely on McKesson for advanced claims and medical management software applications and information technology services. For more information, visit us at www.mckesson.com.