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In order to streamline the process of integrating new vendors into their systems, the health care technology firm Flume Health has introduced a new solution called ‘Flume Relay’.
When implementing a new integration, some of Flume’s customers might spend as much as seven figures every year. Provider networks, chronic illness platforms, and pharmaceutical benefit managers are all possible partners for integrations. The new solution was developed with the intention of standardizing these procedures, which the business believes may cut integration duration and expenditure by as much as 80%.
“We think that there’s a lot of really interesting, exciting work happening on the clinical, provider side. And it can only go so far if coverage and health insurance isn’t sort of modernizing alongside it,” stated Flume CEO Cedric Kovacs-Johnson. “We actually say that health insurance is more powerful than your doctor.”
Generally speaking, health plans are growing tired of dealing with their vendors. Solutions provided by these vendors include chronic illness management to pharmaceutical benefit administration. Incorporating the solutions and services into their administrative systems and maintaining the corresponding data transfers after integration is a significant problem for both incumbents and challenger health plans.
When integrating a new health plan, payers might spend a few million dollars and bury their IT and engineering departments in work for long periods, which is a huge problem and one that Flume Relay aims to fix.
In order to facilitate communication between providers and payers, Flume Relay serves simultaneously as an automation system and universal translation platform. Flume claims that anybody can build up and manage data transactions using their solutions because of how straightforward it is to use. It would let providers more readily accommodate the numerous configurations preferred by self-insured clients.
The first version of Flume Relay was released exclusively to the Flume engineering team. Previously, it took many months for clients of Flume to manage integrations. After using Relay, the same job could be finished in a matter of hours.
Kovacs-Johnson pointed out that many major payers have problems enabling even their in-house technologies to speak to each other, such as their claims and membership support networks. Relay has the potential to eventually bridge this informational vacuum by providing a consolidated member profile across both internal and external services.
Since the demands of healthcare payers continue to evolve, Flume Health has updated its web presence to better promote its products and services for the contemporary healthcare industry. The website’s minimal design and current functionality reflect the cutting-edge efficacy that Flume Relay brings to its clientele of payment providers.
The company was launched in 2018 with the goal of revolutionizing the healthcare system. From its beginning, Flume has made it a priority to use its TPA and health plan administration services to address some of the most pressing issues in the healthcare industry. In addition to Firefly Health and Radion Health, Flume also collaborates with Self-Fund Health and others. In early 2022, the firm raised $30 million in a funding round, with Optum Ventures being the primary investor.
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