Claritev and Lantern Form Strategic Partnership to Enhance Surgical Cost Transparency and Positively Impact Care Quality and Cost Savings
The partnership integrates Claritev's innovative solutions with Lantern's Specialty Care Platform to optimize healthcare costs for Lantern's footprint.
Claritev Corporation ("Claritev" or the "Company") (NYSE:CTEV), a technology, data and insights company focused on making healthcare more affordable, transparent and fair for all, today announced an agreement with Lantern, a Specialty Care Platform that helps employers reduce costs and improve health outcomes for surgery, cancer and infusions care. This strategic partnership brings together Claritev's award-winning BenInsights® and HST Connect® solutions with Lantern's Network of Excellence and TrueRateTM savings methodology to create a powerful solution for healthcare cost optimization that ultimately lowers costs in the healthcare ecosystem.
This collaboration builds upon previous joint research, enabling Claritev and Lantern to provide enhanced value to employers, as well as the healthcare services that patients receive through data-driven surgical cost analysis and healthcare cost optimization.
"This partnership is another step forward in Claritev's transformation journey," said Travis Dalton, Chairman, CEO and President of Claritev. "Lantern shares the same commitment as Claritev - to improve healthcare affordability and transparency in the U.S. Our previous collaboration with them on surgical episode costs reinforced what an impactful partnership this is, and we look forward to delivering meaningful savings for employer groups while increasing the quality of care a patient receives."
Claritev and Lantern will combine Claritev's data capabilities with Lantern's surgical bundling methodology to provide enhanced value through validated cost optimization opportunities in two ways:
- Enhanced Data Analytics with BenInsights – Claritev's comprehensive platform unifies financial and clinical data to deliver a 360-degree view of healthcare spending patterns and benefit plan design through configurable reporting and Smart Card technology. With added access to Lantern's surgical network, BenInsights will provide clients with unprecedented visibility into surgical cost variations and concrete opportunities for optimized care pathways and substantial savings.
- Optimized Patient Steering with HST Connect – Claritev's HST Connect will integrate Lantern's surgical network and services to help guide patients to high-quality, cost-effective providers to enhance patient experience and improve patient care.
"Surgery is 20% of an employer's health spend, but the pricing for those episodes has been nearly impossible to unpack. We published our TrueRateTM savings methodology to increase transparency and encourage the market to adopt our repeatable formula as the new industry standard," said Dickon Waterfield, President of Lantern. "Our partnership with Claritev allows us to transform those innovative insights into actionable tools that will deliver even more specialty care cost savings for our clients."
About Claritev
Claritev, formerly known as MultiPlan, is a healthcare technology, data and insights company focused on delivering affordability, transparency and quality to the U.S. healthcare system. Led by a team of deeply experienced associates, data scientists and innovators, Claritev provides cutting-edge solutions and services fueled by over 40 years of claims processing data. Claritev leverages world-class technology and AI to power a robust enterprise platform that delivers meaningful insights to drive affordability and price transparency and optimizes networks and benefits design in healthcare. By developing purpose-built solutions that support all key stakeholders — including payors, employers, patients, providers and third parties — Claritev is dedicated to making healthcare more accessible and affordable for all.
Claritev serves more than 700 healthcare payors, over 100,000 employers, 60 million consumers, and 1.4 million contracted providers. For more information, visit claritev.com.
About Lantern
Lantern is the specialty care platform connecting people with the best care when they need it most. By curating a Network of Excellence comprised of the nation's top specialists for surgery, cancer care, infusions and more, Lantern delivers excellent care with significant cost savings to employers and their workforces. Lantern also pairs members with a dedicated care team, including Care Advocates and nurses, for the entirety of their care journey, helping them get back to good health, back to their families and back to work. With convenient access to specialists nationwide, Lantern means quality care is within driving distance for most. Lantern is trusted by the nation's largest employers to deliver care to more than 6 million members across the country. Learn more about us at lanterncare.com.
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