Penstock Launches ClearBridge, a Comprehensive SaaS Audit Management Solution for Health Plans
Penstock Group announced today the launch of ClearBridge, a comprehensive SaaS payment integrity solution offered to health plans to facilitate a more effective and efficient claims auditing process. Penstock is part of Goodroot, which launches and scales companies dedicated to increasing access and affordability in healthcare.
ClearBridge is an audit management technology designed to help health plans move beyond the current reality of payment integrity and optimize audit workflow. It was designed and built by seasoned auditors who, after years of navigating other payment integrity platforms, felt thwarted by their opacity, limited functionality and insufficient insights. Recognizing a void in the market, the Penstock team decided to create what they wished existed. ClearBridge offers seamless self-service for auditors that negates the need for constant IT assistance, including intuitive search, advanced reporting and agile edit development. Plus, with its unique “edit sandbox,” users can effortlessly test the effectiveness of new claim edits.
“ClearBridge is a first-of-its-kind, software-as-a-service solution for the next generation of auditors,” says Penstock president Laura Collier. “To be able to bring to market an all-in-one audit workflow technology that was created by the very people who know the processes best is a milestone for Penstock and the industry as a whole. We’re empowering auditors with full transparency and total control to customize their audit processes.”
Health plans are grappling with costly billing and coding errors and are often given limited information from their PI vendors about the root causes leading to provider abrasion. “Many PI companies have built their multimillion-dollar businesses around maximizing the discovery of systemic errors and continuously exploiting these opportunities,” says Collier. “Penstock is rooted in transparency and a drive to reinstate true integrity in payment integrity — even if it defies traditional business sense. As auditors, we’ve witnessed firsthand the convoluted processes and lack of transparency in the industry, and we’re deeply passionate about providing a solution that brings transparency back into focus.”
ClearBridge offers health plans a way to handle payment integrity in-house, providing users with the necessary tools to understand the root causes of billing and coding errors, correct them and implement changes for future discrepancy mitigation. ClearBridge makes it easy for health plans to find more recoveries, remove inefficiencies and lower the cost of member care with a more effective, less-burdensome claims auditing process.
“Healthcare costs in America are constantly on the rise, and one of the key drivers of this is recurring overpayments,” says Goodroot CEO Mike Waterbury. “To keep costs down, health plans need technology that enables their teams to ensure claims accuracy from the very beginning, and ClearBridge is the solution. With this latest software launch, Laura and her team at Penstock continue to reinvent payment integrity.”