Driving Long-Term Growth Through Innovative Technology

Homestead Smart Health Plans helps self-insured organizations lower healthcare costs through an innovative system of transparent claims adjustment and reference-based repricing technology.

After Homestead identified an opportunity to introduce automation and modern digital systems to the traditionally manual and laborious claims adjustment industry, they partnered with Arcweb Technologies to implement an innovative, cloud-based workflow that helped them grow their business from $2.4 million to over $30 million in revenue.

The Client: Homestead Smart Health Plan

Self-funded health plans create opportunities for organizations to reduce costs and offer better coverage options for their employees. But the system also creates challenges with claim repricing and reimbursement, a task that has traditionally been handled by specialized vendors using a labor intensive and imprecise system.

Homestead Smart Health Plans saw an opportunity to create competitive advantage by automating its reference-based repricing process. The Arcweb team worked closely with Homestead to transform their methodology using business process automation, modern software, and complex integrations with public data sources used as a benchmark for claims repricing.

Project Objectives

1.) Eliminate Manual Processes

Traditionally, claims repricing relies on a complex paper-based process to deliver accurate information to self-insured and Third-Party Administration (TPA) clients. Homestead wanted to accelerate turnaround and improve efficiency by replacing this system with a modern digital process – they just needed the right partner to bring it to life.

2.) Improve Accuracy

Manual processing and the complex nature of healthcare claims meant that errors and inefficiencies were common in claims repricing. Homestead realized there was a way to save its clients money by eliminating errors and inefficiencies through innovative technology.

Our Process

Arcweb’s design and engineering teams worked closely with Homestead to plan, design, and execute a digital transformation process for their repricing business.

Workflow Automation

After building a deep understanding of Homestead’s repricing process and workflow challenges, Arcweb worked closely with process and healthcare SME’s at Homestead to develop a new claims intake and repricing process built around electronic workflows and a series of user-friendly software dashboards.

Incoming claims are now electronic and can be uploaded into Homesteads’ proprietary repricing system, where they can be accessed instantly by a team of claims adjustment experts. This shift from paper to digital not only reduced overhead and workload for Homestead’s repricing team, it has also led to increased consistency and faster turnaround than the traditional paper-based process.

Complex Data Integration

Claims repricing depends on a variety of data sources to ensure accuracy and an equitable distribution of funds to providers. Thanks to Arcweb’s expertise at complex healthcare data integrations, the Claim Watcher platform can now give Homestead’s claims adjusters access to a variety of public data sources for instant and accurate healthcare repricing.

These new integrations not only eliminate a significant amount of work that was previously performed manually, they also ensure more accurate and up-to-date information, ultimately saving money for Homestead’s self-insured clients.

UX Dashboard

Arcweb designed and engineered a cloud-based, platform agnostic Claim Watcher dashboard that lets Homestead claims adjustors analyze and reprice incoming claims, replacing a time-consuming paper-based process.

Users can view information on billing and procedure codes, access third-party data sources, make adjustments, and send pricing back to the providers for review – replacing a cumbersome and manual process.

Key Results

By working closely with Homestead‘s processing team and claims adjustment SMEs, Arcweb helped Homestead design, build, and launch Claim Watcher, a state-of-the-art repricing tool that uses automation and data integration to accelerate turnaround, reduce inaccuracies, and improve efficiency.

Claim Watcher has helped reduce the health benefits spend of Homestead’s clients by an average of 30%, while allowing Homestead to grow from $2.4 to $30 million in revenue in just a few years.

Digital Transformation

Thanks to the successful launch of Claim Watcher, Homestead has grown to be a leader in the reference-based repricing market. Claim Watcher’s improved efficiency and repricing accuracy has also allowed Homestead to give clients a significant reduction in health benefits spend, along with improved customer satisfaction and a more efficient and accurate claims repricing process.

Market Growth

The Claim Watcher service has also allowed Homestead to work with multiple TPAs, magnifying their impact on the market and helping business owners take a more sustainable approach to the health benefits they can offer their workforce.

Key Results

By working closely with Homestead‘s processing team and claims adjustment SMEs, Arcweb helped Homestead design, build, and launch Claim Watcher, a state-of-the-art repricing tool that uses automation and data integration to accelerate turnaround, reduce inaccuracies, and improve efficiency.

Claim Watcher has helped reduce the health benefits spend of Homestead’s clients by an average of 30%, while allowing Homestead to grow from $2.4 to $30 million in revenue in just a few years.

Thanks to the successful launch of Claim Watcher, Homestead has grown to be a leader in the reference-based repricing market. Claim Watcher’s improved efficiency and repricing accuracy has also allowed Homestead to give clients a significant reduction in health benefits spend, along with improved customer satisfaction and a more efficient and accurate claims repricing process.

The Claim Watcher service has also allowed Homestead to work with multiple TPAs, magnifying their impact on the market and helping business owners take a more sustainable approach to the health benefits they can offer their workforce.

What Our Clients Are Saying

What Our Clients Are Saying

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