May 2020 - Valenz

Vālenz VzReturn Offers Employers Safe Return-to-Work Solution During COVID-19 Pandemic

May 22, 2020/in Featured, Valenz Care/by kamryn cain

PHOENIX, Ariz. (May 22, 2020) – As America turns its attention to re-opening the economy and employers plan for their employees’ return to work, Vālenz™ is introducing VzReturn, a solution for protecting workforce health and safety during the COVID-19 pandemic. A Valenz Care solution, this comprehensive client-centric set of services further expands the Valenz ecosystem and offers immediate value to self-insured employers.

Valenz VzReturn helps employers meet their legal obligations while also limiting potential health risks for their workforce by providing onsite temperature checks, personal protective equipment and antibody testing where available, prior to and upon their employees’ return to work. The solution also includes a variety of management tools and educational resources for Human Resources leaders and employees to improve emotional fitness and physical well-being.

According to Amy Gasbarro, Chief Operating Officer for Valenz, employers may also access Valenz Care’s personalized health coaching via multiple channels, including telephone, in-person and web chat, as well as Textcoach,™ a secure messaging platform for employees to connect with a licensed mental health counselor to address concerns such as coping, stress, depression or anxiety.

“COVID-19 has presented unprecedented economic and operational challenges for employers, especially now given the lack of consistent guidance related to safe return-to-work policies and procedures,” said Rob Gelb, Chief Executive Officer for Valenz. Gelb added that Valenz is dedicated to offering client-centric solutions like VzReturn to help clients engage early and often to mitigate employer risk while meeting employee health and safety needs during the pandemic response.

“Providing this safe return-to-work onsite solution offers a clearly defined path for employers as they reopen their businesses and resume normal operations. Additionally, with VzReturn, our clients have the tools to continually protect the workforce should employees encounter virus exposure outside the workplace, requiring additional stays of quarantine,” Gelb said. “The Valenz VzReturn solution is just one more component of our promise to support our clients in achieving smarter, better, faster healthcare.”

Click here to learn more about Valenz VzReturn.

About Valenz

Through a complete health administrative ecosystem, Valenz connects cost and quality data on a single-source, end-to-end analytics platform for smarter, better, faster healthcare. Valenz solutions integrate data from comprehensive care management services (Valenz Care), high-value provider networks (Valenz Access), claim flow management (Valenz Claim) and solutions for payment integrity, revenue cycle management and eligibility compliance (Valenz Assurance) into the ecosystem. More information is available at valenzhealth.com. Valenz is backed by Great Point Partners.

About Great Point Partners

Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading healthcare investment firm, currently with approximately $1.8 billion of equity capital under management and 28 professionals, investing in the United States, Canada and Western Europe. Learn more at www.gppfunds.com.

The Vālenz Payment Solution: Electronic Solutions for Timely and Efficient Claim Payments

May 12, 2020/in Featured, Valenz Claim/by kamryn cain

PHOENIX, Ariz. (May 12, 2020) – In response to surging demand for electronic claim payments, leaders at Vālenz™ today announced the rollout of the Valenz payment solution. This development further expands the Valenz ecosystem to include fully automated solutions for electronic provider payments.

With the Valenz payment solution, payers and third-party administrators can automate and streamline payment processes for health, dental and workers’ compensation claims – eliminating the delays of manual payment processes and ensuring payments arrive on time. While the need for electronic payment solutions was already on the rise, the widespread shift to working from home has led to rapid acceleration of the Valenz payment solution, now being released ahead of its original late 2020 schedule.

“COVID-19 has presented many unforeseen operational challenges, especially for organizations with manual processes that raise barriers to conducting business as usual right now,” said Jordan Hersh, Vice President, Enterprise Solutions at Valenz, adding that Valenz is dedicated to meeting client needs even as those needs change day by day during the pandemic response. “The current situation called for us to provide electronic payment solutions as soon as possible for our clients, and we were very happy to make that happen.”

The Valenz payment solution enables clients to send provider payments on time and according to their providers’ own preferences, including virtual card payments. Timely, accurate payments are an important part of maintaining healthy relationships with hospitals and providers, and electronic claim payments eliminate manual steps to streamline operations and reduce expenses. With the Valenz payment solution, all payments are processed on a single system of record, regardless of payment type. And, because security is paramount, the platform is HIPAA and NACHA compliant, and it meets all federal and state requirements for electronic payments.

“Simplified payment processes, operational efficiency and clearer communications benefit all health plan partners, especially while working through significant changes in the work environment,” said Rob Gelb, Valenz Chief Executive Offer. “The Valenz payment solution is an important part of our promise to support our clients in achieving smarter, better, faster healthcare.”

Learn more here.

About Valenz

Through a complete health administrative ecosystem, Valenz connects cost and quality data on a single-source, end-to-end analytics platform for smarter, better, faster healthcare. Valenz solutions integrate data from comprehensive care management services (Valenz Care), high-value provider networks (Valenz Access), claim flow management (Valenz Claim) and solutions for payment integrity, revenue cycle management and eligibility compliance (Valenz Assurance) into the ecosystem. More information is available at valenzhealth.com. Valenz is backed by Great Point Partners.

About Great Point Partners

Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading healthcare investment firm, currently with approximately $1.8 billion of equity capital under management and 28 professionals, investing in the United States, Canada and Western Europe. Learn more at www.gppfunds.com.

Vālenz Partners on Joint Economic Recovery Venture for Self-Funded Groups

May 11, 2020/in Announcements, Featured/by ryan kesner

PHOENIX, Ariz. (May 11, 2020) – In response to the economic impact of COVID-19, Vālenz™ has joined Benefit Plan Administrators, Inc. (BPA) and six other top U.S. health vendors to jointly deploy a self-funded healthcare and benefits solution for new groups that are currently fully-insured. Known as the Stimulus For Business Initiative (SFBI), this program marks a new, unprecedented opportunity for employer savings in the health benefits market.

Through deferred or waived service fees for up to three months following the new business anniversary date for eligible member groups, the SFBI plan offers a unique self-funded adoption opportunity to increase cash-flow and stimulate economic growth. The eight founding organizations, which include Valenz, BPA, 6 Degrees Health, HealthWallet, ScoutRx, The Phia Group, CieloStar and PHCS, collectively rolled out the program on May 8.

SFBI will operate as an LLC formed by some of the nation’s top health plan advisors: DC Advisory LLC, Stautberg Benefit Advisors, Prosperity Benefits and AMR Benefits, who are partnering with leading stop-loss providers East Coast Underwriters to ensure the viability and success of this novel program.

With fully-insured groups expecting significant rate increases on renewals in 2020 and 2021, SFBI’s founders point to this approach as a potential solution for all fully-insured groups as an added stimulus and optional recovery opportunity.

“The SFBI partners are pleased to announce this innovative program,” said Morris Masinter, President of BPA and SFBI co-founder. “With projections showing upcoming high rates for fully-insured renewals, our plan is a smart move for employers to retain control of their benefit spend, even in the face of hardships caused by the devastating coronavirus pandemic.”

Fully-insured groups of 5-5,000 lives in all industries, single or multi-state, public or private entities, will have the option to work in co-advisory arrangement with their current broker and SFBI. Participants can expect customized solutions for their benefit needs and should speak with their broker to learn more about the opportunity. More information on eligibility criteria, including webinars and educational seminars around the program, are coming soon.

“We are thrilled to offer this innovative solution jointly with our co-founders, a highly esteemed group of organizations that share our dedication to supporting self-funded employer groups,” said Rob Gelb, Chief Executive Officer at Valenz. “SFBI is one of many ways we are continuously expanding our ecosystem and engaging early and often for smarter, better, faster healthcare.”

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