LAS VEGAS, Nov. 16, 2023 /PRNewswire/ — Forum Systems, Inc. and NASCO announce a partnership, formalizing a long-standing collaboration in healthcare payer technology. The partnership combines NASCO’s decades of experience in the healthcare payer industry with Forum’s cutting-edge solutions to optimize payer operations.
“We have nearly 40 years of exclusive service to some of the largest health insurers across the nation,” said John Ladaga, President and CEO of NASCO. “This experience has provided us with a deep, intimate understanding of the challenges that healthcare payers face. We know that partnerships matter, and this strategic partnership with Forum Systems is combining our payer-centric expertise with a trailblazing technology company that has also been entrenched in years of work with health insurers. Together, we are able to provide innovative solutions that will help payers win in an ever-evolving healthcare market.”
The partnership’s first joint offerings tackle three major pain points for payers: security, contract management and benefits management. Three modules of QuantumSim™ — QS SecureGPT, QS ContractsGPT and QS BenefitsGPT — are among the first AI-powered, payer-specific products on the market to usher in the next generation of payer technology.
QS SecureGPT is a foundational component to an organization’s use of generative AI (GenAI). It protects large language model (LLM) applications through obfuscation, guardrails and observability, allowing enterprises to leverage LLMs without fearing for their private data or reputation.
QS ContractsGPT ingests and analyzes contracts with a powerful natural language processing (NLP) engine, which provides rapid document discovery, summarization and information extraction, enabling ease of interaction with critical documents that are often difficult to effectively manage. The solution also enables business, legal, and procurement teams to chat with their document through public and private LLM integration.
QS BenefitsGPT standardizes benefits data with knowledge graphs, allowing product analysts, customer service agents, members, and other stakeholders to quickly extract relevant information. Integration with powerful public and private LLMs enables a unified natural language interface for rapid deployment and interface training.
Recent Gartner® research — “Quick Answer: How Can U.S. Payers Use GenAI to Advance Product Profitability?” by Connie Salgy — advises, “GenAI can augment humans for more effective and faster new and existing product and benefit plan execution. It should be a complement to human product, regulatory and compliance expertise — not a substitute.” QS BenefitsGPT realizes this capability by accelerating product creation while keeping humans in the loop.
NASCO and Forum Systems are harnessing the power of AI in a responsible, value-driven way to unlock healthcare data, pioneer innovative products, engage members and providers, and enable a more efficient healthcare ecosystem.
“When we saw payers immediately shutting off public LLMs, we knew the potential productivity gains were too great to ignore, but the obstacles were big too,” said Mamoon Yunus, President and CEO of Forum Systems. “We first focused on hardening our gateway to meet the rigorous privacy, security and ethical demands of healthcare. LLMs will remain just another ‘shiny new toy’ until they are secure and until their output can be guaranteed to be factual. Businesses, and especially healthcare companies, cannot rely on merely probabilistic output — if LLMs are to be useful, they have to be accurate. The way we’ve solved the hallucination problem, we think, is unique and provides a lot of value for our customers.”
QS SecureGPT and QS ContractsGPT are currently commercially available, and QS BenefitsGPT is in a late development stage with early-adopter health insurers. These initial AI-backed offerings are tackling some of the biggest challenges that payers face. The Forum Systems and NASCO partnership will focus on understanding how GenAI and related technologies can continue to create improved efficiencies and provide value for payers.
For more information about the partnership and the three modules of QuantumSim™ (QS SecureGPT, QS ContractsGPT and QS BenefitsGPT), contact Jeff Schultz, Strategic Sales Executive for NASCO, at jeff.schultz2@nasco.com.
Source: Gartner, Quick Answer: How Can U.S. Payers Use GenAI to Advance Product Profitability? Connie Salgy, 6 November 2023.
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About Forum Systems
Forum Systems is leading the Enterprise GenAI revolution. Forum’s patent-pending QuantumSim™, together with Forum Sentry, mitigate the unpredictable nature of LLMs through integration with corporate APIs, ensuring LLM output is truthful and accurate. Used by some of the largest global companies for building intelligent business workflows, Forum’s suite of products provides unique, industry-leading solutions that allow enterprises to reinvent themselves with GenAI.
About NASCO
NASCO, a wholly-owned subsidiary of the largest health insurer in Michigan, is a provider of innovative technology for leading healthcare payers across the nation. We deliver the capabilities and develop the solutions that create healthier outcomes for healthier lives. We are driving the rapid development of digital health technologies to accelerate market imperatives throughout the healthcare ecosystem and are continually looking ahead to identify new technologies, ideas and initiatives that will enable health insurers to provide a more holistic, personalized member experience.