Veda, a health tech company, has launched Veda Quantym to help health plans modernize their provider directory and reduce operational costs, the company announced today.

According to a release, Veda Quantym improved network accuracy by 97% and reduced administrative costs for manual updates by more than $1 million for a Blue Cross Blue Shield client.

“At Veda, we’re developing solutions to complex data problems that have challenged the healthcare system for decades,” Veda CEO Meghan Gaffney said in a statement. “Through trusted solutions like Veda Quantym, healthcare organizations can easily harness the power of data to make healthcare more efficient, accessible and interoperable.”

The name Quantym was inspired by scientific breakthroughs in quantum physics.