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Oscar Health Renews and Expands Relationship with Digital Solutions Platform Provider Ciox Health
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Rhea-AI Summary
Oscar Health, Inc. (NYSE: OSCR) has renewed and expanded its digital services agreement with Ciox Health, a Datavant company. Under this new arrangement, Oscar will utilize the Datavant Switchboard through Ciox to enhance clinical data access, improving turnaround time and reducing provider burden. The expanded agreement is projected to yield a 25% reduction in total spending for Oscar. Scott Blackley, Chief Transformation Officer at Oscar, expressed that Ciox is aligned with their objectives, driving significant cost savings. Ciox's Executive Vice President, Bill Horn, highlighted this partnership as a key to advancing digital healthcare data exchange, benefiting Oscar's members and financial performance.
Positive
The renewal and expansion of the agreement with Ciox Health is expected to reduce total spending by 25%.
Improved access to clinical data via the Datavant Switchboard enhances operational efficiency.
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SAN FRANCISCO & NEW YORK--(BUSINESS WIRE)--
Today, Ciox Health®, a Datavant company, and Oscar Health, Inc. (“Oscar”) (NYSE: OSCR), the first health insurance company built around a full stack technology platform, announced that they have renewed and expanded their digital services agreement.
Under the expanded agreement, Oscar will have access to the Datavant Switchboard via Ciox to securely request, retrieve, and digitally deliver clinical data. Through this digital capability, medical record access is improved and turnaround time is reduced, while reducing the burden on providers. The arrangement is expected to deliver a total spend reduction of 25% over the term of the agreement for Oscar under the new contract.
"Ciox's offering, both from a product and financial perspective, is strategically aligned with our broader company objectives," said Scott Blackley, Chief Transformation Officer of Oscar. "After having been a trusted partner for nearly seven years, they continue to help drive meaningful cost savings through scale, while being best positioned to support our consumer-centric, tech-focused business."
“We are thrilled to power the aspirations of the innovative team at Oscar, a long-standing client,” said Bill Horn, Executive Vice President of Payer Growth at Ciox. “By leveraging Datavant Switchboard, Oscar stands out as a leader in digital healthcare data exchange, and this extended relationship will quickly benefit both their members and bottom line.”
About Ciox
Ciox Health, a Datavant company, provides leading clinical data technology that empowers greater health by unlocking the potential of data in medical records. The company leverages a ubiquitous network of clinical data connections to simply and securely connect healthcare decision makers with the data and hidden insights in patient medical records. Ciox helps customers connect, control and comply in solving last mile challenges in clinical interoperability. Supporting a range of connectivity needs from research to revenue cycle, Ciox’s solutions include clinical data acquisition, release of information, and clinical coding. Learn more about Ciox technology and solutions by visiting www.cioxhealth.com or Twitter and LinkedIn.
About Oscar Health
Oscar Health, Inc. (“Oscar”) is the first health insurance company built around a full stack technology platform and a relentless focus on serving its members. At Oscar, our mission is to make a healthier life accessible and affordable for all. Headquartered in New York City, Oscar has been challenging the health care system's status quo since our founding in 2012. The company’s member-first philosophy and innovative approach to care has earned us the trust of over one million members as of January 31, 2023. We offer Individual & Family, Small Group and Medicare Advantage plans, and +Oscar, our full stack technology platform. Our vision is to refactor health care to make good care cost less. Refactor is a term used in software engineering that means to improve the design, structure, and implementation of the software, while preserving its functionality. At Oscar, we take this definition a step further. We improve our members’ experience by building trust through deep engagement, personalized guidance, and rapid iteration.
What is the significance of Oscar Health's agreement with Ciox Health?
The agreement allows Oscar Health to use the Datavant Switchboard for improved clinical data access, resulting in a projected 25% reduction in spending.
When was the new agreement between Oscar Health and Ciox Health announced?
The agreement was announced on April 19, 2023.
How will the Ciox Health partnership benefit Oscar Health's members?
The partnership is expected to streamline clinical data access, enhancing service delivery and reducing turnaround times for Oscar Health's members.
What technology does Oscar Health utilize in its operations?
Oscar Health operates on a full stack technology platform designed to enhance patient access to healthcare services.
