EXL Health Named 'One of the Strongest Performers in the Risk Adjustment & Analytics Space’ in 2020 KLAS Performance ReportWednesday, September 30, 2020
EXL Health receives top ratings from customers, as report reveals that 91% of customers would buy from the digitally-enabled
healthcare transformation vendor again
NEW YORK, September 30, 2020 - EXL [NASDAQ: EXLS], a leading Operations Management and Analytics company, today announced that SCIO Health Analytics, an EXL Heath company, and innovator in quality, risk adjustment and analytics solutions to payer and provider organizations, has been named a leader in the areas of loyalty, value and support in the 2020 Risk Adjustment & Analytics KLAS Performance Report. EXL Health customers rate SCIO Health Analytics with the highest overall score of 93.0 and “A” rankings for customer experience, making it the top-ranked vendor in feedback evaluations.
In this latest report, KLAS, a research firm that specializes in monitoring and reporting the performance of healthcare vendors, highlights the ‘top four’ vendors in the space and notes vendors that are beginning to win over existing mindshare.
EXL Health was rated by customers as collaborative, proactive, responsive to requests for new technology and functionality, and willing to share best-practice guidance. The report also reveals that EXL Health is found to provide consistent, proactive support that enables tangible outcomes and contributes to customers’ high satisfaction.
KLAS interviewed thousands of healthcare professionals and uses the responses to rate risk adjustment and analytics (solutions and services supporting population stratification, reporting, and/or analytics for CMS or other risk-based contracts). To enable readers to more quickly understand high-level differences in vendor performance and give better context as to how each product compares to other offerings in the market, KLAS has organized the questions from the standard evaluation into six customer experience pillars—culture, loyalty, operations, product, relationship, and value.
“We were particularly pleased to see reported outcomes of customer loyalty, tied in with our high customer response rate in the research,” says Sam Meckey, Executive Vice President and Business Head, EXL Health. “We’re dedicated to being customer centric, and this is why we have so many customers of 10+ years or more. The high value ranking is also significant, as it supports financial ROI through shared savings due to more accurate HCC coding. This is pertinent for risk adjustment due to the sensitivity of cost pressures we’re seeing among providers. Volume is down due to many factors including COVID, resulting in a need to cut services, as well as looking to alternative vendors offering more point-based solutions.”
In the risk adjustment and analytics space, a small group of large vendors tend to dominate mindshare and market share. However, as the report recognizes, market share is not always a guarantee of a strong customer experience, and some organizations have started to consider and choose other options.
“Payers and providers are looking at different options for Risk Adjustment and Analytics offering. They are considering solutions that help them consolidate and drive quality outcomes; they are also interested in solutions that can supplement their current Risk Adjustment offering to help find a real ROI in their data,” says Ryan Pretnik – Director of Strategy and Research – Analytics, KLAS. “Furthermore, both health plans and providers are looking to optimize their current Risk Adjustment and Analytics programs and to enhance their strategies. With all eyes on quality, outcomes and value, both payers and providers are looking at a wider range of technology and analytics-enabled solutions (and services), which are critical to meeting this evolving need.”
The report comes at a pivotal time as EXL Health begins a series of significant product investments surrounding technology capability and user experience. With deep, proven healthcare expertise across the healthcare value chain and as an industry leader in advanced analytics, the company is currently extending its NLP technology capabilities and further leveraging analytics to help risk-based entities reach data-driven decisions.
EXL (NASDAQ: EXLS) is a leading operations management and analytics company that helps our clients build and grow sustainable businesses. By orchestrating our domain expertise, data, analytics and digital technology, we look deeper to design and manage agile, customer-centric operating models to improve global operations, drive profitability, enhance customer satisfaction, increase data-driven insights, and manage risk and compliance. Headquartered in New York, EXL has more than 31,600 professionals in locations throughout the United States, the UK, Europe, India, the Philippines, Colombia, Australia and South Africa. EXL serves multiple industries including insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics, media and retail, among others. For more information, visit www.exlservice.com.