Contract Pro
Understand the financial & risk impacts of provider contracts with Contract Pro.
Provider contracts can be extremely complex and hard to quantify. With the robust analysis provided by Wakely’s Contract Pro tool, organizations can more effectively evaluate fee-for-service provider contracts, streamline negotiations, and create strategies for market expansion. Our easy-to-interpret summary of results will provide credible and clear insights, giving you further understanding of financial implications and underlying risks.
How Contract Pro helps you make the right choices.
Using the Contract Pro tool, Wakely can run unlimited configurations of contract terms. This enables us to vary rates, structures, and hierarchies, as needed. Then, it calculates allowed costs based on provided contract rates. After this analysis, Wakely provides your organization with multiple summary reports, including benchmark data (e.g., against Market or Medicare), to help you evaluate provider contracts and make informed decisions.
Request a consultation to learn more about Contract Pro.
Sample summary report
As seen in the example above, the standard deliverable Excel report summarizes:
- Utilization metrics
- Allowed claim cost
- Medicare allowed benchmark claim cost
- Billed charge claim data (if included in scope)
- Other Market or client-allowed claim data by service category, based on the user’s specific FFS contract terms
Additionally, custom reporting can be included to satisfy the unique use cases for each user. For a better understanding of how Contract Pro works, Wakely can also provide a live demo of the tool and reporting deliverables.
Get clear, actionable insights that help your organization move ahead.
Contract Pro works hard for your organization. You can use Contract Pro’s analysis to help you:
- Measure risk
- Quantify reimbursement impacts
- Perform budget forecasting
- Negotiate proposed or existing contracts
- Develop premium rates
- Select a provider network
- Determine market feasibility
- Analyze payment integrity
Contract Pro is an invaluable tool for payers and health plans, hospital systems and providers, government entities, or any organization seeking to evaluate the impact of potential provider contracts.
