Create a Contract

Create a new contract in Console.

In Console, you can define the contract terms and additional parameters using the tool’s form filling capabilities. Each new performance period requires a new entry into the Console. The system stores user credentials, date, and time the contract was uploaded. You can use search and filter to locate contracts that were previously uploaded.

To create a contract:
  1. Open the Console application.
  2. Select Contract Performance Configuration.
  3. Select Add New Contract to create a contract.
  4. Select a contract type from the Contract Type menu. Depending on whether you select MSSP or Value Based Contract, different options are available on the remainder of the form.
  5. Fill out the form with the appropriate values and selections.
  6. Select Submit to save new contract build.
The attributes below are included in the contract configuration form:

Table 3-1 Contract Fields

Attribute Required Definition Use
Benchmark Expenditure Yes The benchmark defined by CMS for the contract. This benchmark value is used for estimated financial performance calculations. Performance
Benefit Type No The benefit type for the contract. Informational
Budget No The organizational budgeted payout earnings for the contract. The budget value is informational only and can serve as a target line relative to financial earnings estimations. Informational
Claims Source Yes Claim source selection is used to verify the data sources that contribute to financial and cost calculations for the contracted lives. Performance
Comments No Add comments to the contract. Informational
Contract Type Yes Determines the contract template and respective fields that you complete. The template options are:
  • VBC template
  • MSSP template
 Performance
Contract Category Yes The core components that make up a contract. The following core components are supported:
  • MSSP Contract
    • Shared risk with pay for performance
    • Shared savings with pay for performance
  • VBC Contract
    • Medical loss ratio
    • Pay for performance
    • Shared risk with pay for performance
    • Shared savings with pay for performance
 Informational
Contract Name Yes A tenant-defined name for the contract. Informational
Contracting Entity/ACO Yes The entity in the tenant that holds the contract. For example, a customer tenant has multiple ACOs or contracting entities. ACO x holds the contract that is being uploaded and is responsible for managing the enrolled members. Informational
Enrollment Source Yes Enrollment source selection is used to verify the source of enrollment in conjunction with plan selection for member identification. Performance
Initial term end date No The end of the contract term. This date does not affect performance calculations and is informational only. Informational
Initial term start date No The start of the contract term. This date does not affect performance calculations and is informational only. Informational
Line of Business No The line of business associated with the contract. The selection options are based on the tenant’s payer plan reference standardization file. Informational
Member Attribution Methodology No This is informational and provides details of how the members are assigned. This field selection does not impact performance outcomes. Informational
MSSP Level Yes, for MSSP basic track A list of the CMS-defined MSSP level options. Define level of participation in basic track. The selection of this field impacts financial performance outcomes. Performance
MSSP Track Yes A list of the CMS-defined MSSP track options. The selection of this field impacts financial performance outcomes. Performance
Payer Yes The payer of the contract. The selection options are based on the tenant’s payer reference standardization file. Informational
Performance Period end date Yes The performance period end date for the contract. This date impacts performance calculations. Performance
Performance Period start date Yes The performance period start date for the contract. This date impacts performance calculations. Performance
Plan(s) Yes The health plan products associated with the contract. The selection options are based on the tenant’s payer reference standardization file. Multiple plans can be associated with a contract. Performance
Population Yes The platform population used to define the sources that make up the longitudinal record for patients and measurement outcomes.

Note:

This field must be filled out for the the Claims Source and Enrollment Source values to be populated.
Performance
Projected Earnings No The organizational projected annual earnings for the contract. The projected earnings value is informational only and can serve as a projection line relative to financial earnings calculations-based customer data entry. Informational
Reporting Projects Yes Analytics project that contains the measures associated with the contract. Performance
Target No The organizational stretch goal for the contract payout earnings. The target value is informational only and can serve as a target line relative to financial earnings estimations. Informational

Parent topic: Contract Performance