East Windsor, NJ—July 26, 2023—SpectraMedix, a leading value-based payment and analytics platform provider for health plans and health systems, announced today that the SpectraMedix VBP Platform has earned Healthcare Effectiveness Data and Information Set (HEDIS®) Certified Measures status from the National Committee for Quality Assurance (NCQA) for Measure Year 2023. Certification validates SpectraMedix’s ongoing commitment to providing solutions for payers and providers across the country to improve their quality outcomes.
CEO Raj Lakhanpal, MD, noted, “SpectraMedix is proud to once again achieve HEDIS Certification. Supporting the clinical quality analytic needs of health plans and health systems has been a core tenant of SpectraMedix since our inception. Renewing HEDIS Certification from NCQA enables us to continue to support clients as their value-based payment and quality initiatives evolve."
Each year, NCQA issues an updated set of measure requirements. NCQA’s HEDIS Health Plan Measure Certification is precise, automated testing that verifies compliance with HEDIS Specifications. Solutions that undertake the analytical processing of these measures need to meet complex, exacting requirements.
The SpectraMedix VBP Platform delivers a modular, end-to-end platform for health plans and health systems to implement and optimize the performance of value-based payment arrangements. Its leading VBP Platform addresses contract modeling and development, financial reconciliation, provider enablement, and quality, cost, risk, and performance analysis and reporting. The company brings a depth of experience from working with health plans and health systems operating multiple lines of business across 20 states to address their unique pain points in their different value-based payment initiatives. SpectraMedix’s mission is to provide the technology, subject matter expertise, consultative services, and real-world experience our clients need to advance their value-based payment journey.
“Attaining 2023 certification ensures our platform supports the most current quality measures vital to helping organizations on the value-based payment journey,” said Dr. Lakhanpal.
SpectraMedix delivers a tightly integrated set of applications that accelerate performance for health plans and health systems across the spectrum of value and risk-based arrangements. Our scalable, HITRUST CSF Certified, and NCQA Certified VBP Platform has enabled our clients to save more than $250 million using proven provider enablement, contracting, financial reconciliation, and performance analytics capabilities for value-based payment initiatives.
NCQA is a private, nonprofit organization dedicated to improving healthcare quality. NCQA accredits and certifies a wide range of healthcare organizations. It also recognizes clinicians and practices in key areas of performance. NCQA’s Healthcare Effectiveness Data and Information Set (HEDIS®) is the most widely used performance measurement tool in health care. In recognition of its leadership in diversity, equity and inclusion, NCQA has won the Excellence in Diversity Award from the Chesapeake Human Resources Association. NCQA’s website (ncqa.org) contains information to help consumers, employers and others make more-informed healthcare choices. NCQA can be found online at ncqa.org, on Twitter @ncqa, and on LinkedIn at linkedin.com/company/ncqa.
HEDIS® is a registered trademark of NCQA.
HEDIS® Certified MeasuresSM is a service mark of NCQA.
NCQA Measure CertificationSM is a service mark of NCQA.