Lorica’s NeMo (Negotiation Module) is a platform which supports hospital negotiations. NeMo provides hospital negotiation teams with rapid, rich and granular insights into hospital pricing together with workflow support to ensure a streamlined, data-driven negotiation process.
The key benefits for negotiators using the tool are;
- Health intelligence on relative provider value, based on historical claims data
- Supporting evidence to compare peer hospitals
- Clear visualisation of peer group comparison on price and quality
NeMo has been built to manage the wide disparity of cost and pricing methods in the marketplace. NeMo is an immediate upgrade in accuracy and speed for customers who currently negotiate via email and spreadsheets. NeMo assures customers undergoing the negotiation that all payment model and forecast calculations are stringently tested and embedded into NeMo so that analysis is reliable and reproducible. NeMo also adds richness to the data by including a comparison on provider quality, as measured by the relative level of the 13 reportable Hospital Acquired Complications (HACs) defined by the Australian Commission for Safety and Quality in Healthcare (ACSQHC) in hospital claims. NeMo supports real-time modelling enabling the negotiation to model change before a negotiation, but also during live discussions.