Value-based Healthcare Quantified by LexisNexis's PPM
ATLANTA, GA: The Healthcare industry is in the verge of transition from Fee-for-Service model (volume based) to Value based reimbursement (worth based). High value care delivery systems include integrated practice units, cost and outcome measurement, bundled payments, integrated care delivery across facilities, geographically expanded services and a unified IT platform to enable these processes. A critical element in understanding value is measurement. A galvanizer of data, analytics and technology, LexisNexis Risk Solutions recently launched Provider Performance Monitor (PPM). This new monitoring solution integrates severity-adjusted provider with network and facility performance analytics.
Fundamental metrics used for provider performance assessment includes patient risk, efficiency index and case mix. LexisNexis’s PPM assists in assigning roles to individual provider or provider group to precisely analyze their episode wise effort in efficiencies and risks. Besides offering flexible standard collation at regional and national levels, the health-quality optimization tool also facilitates to bridge the gaps in care by adhering to compliance with industry touchstones and proprietary measures.
The firm utilizes a triad of disciplines, namely analytics, predictive science and computing platform, to transform the healthcare business. PPM aims to come up with severity-adjusted episode-based provider performance analytics along with an industry benchmarked quality metric in a single web-based application by exploiting services and statistical data. Both the aforesaid analytics assist PPM in guarantying a concoction of better provider outcome delivery, patient experience betterment and cost alleviation. Not only these analytics aid PPM, but also are of extreme importance to various Accountable Care Organizations (ACO), health contrivers and structured delivery network providers.
"LexisNexis is dedicated in providing the health care industry with the clinical data analytics solutions needed to implement the Affordable Care Act and excel in Triple Aim, and the Provider Performance Monitor is a key piece of our continuum of solutions," articulates Lee Rivas, CEO, Public Sector and Health Care, LexisNexis Risk Solutions.