Posts in Category: healthcare analytics

LUMEDX Blog 

Value-based care is here to stay, will get boost from analytics, study says

Despite 2017’s cancellation of mandatory bundled payments, the value-based care movement in the United States is still healthy and will benefit in 2018 from analytics, according to a report from Washington, D.C.-based healthcare consulting firm Avalere.

In “2018 Healthcare Industry Outlook,” Avalere says new ways to collect data and advanced analytic capabilities are revitalizing efforts to turn data into insights that can inform policy and improve clinical workflows. This supports the shift to value-based care, which has continued even as the Trump administration backs away from large-scale mandatory models.

In November, the Centers for Medicare and Medicaid Services (CMS) canceled a plan for mandatory hip fracture and cardiac bundled payments that was slated to go into effect Jan. 1, sparking some concern that the action signaled a move away from value-based care. But then on Jan. 9, the CMS launched a new, voluntary bundled payment model that will be considered an alternative payment model (APM) for purposes of Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) reporting.

This, along with evidence from Avalere that the private sector has not reversed course, tells us that interest in strategies to move away from the traditional fee-for-service payment model has not waned.

“Despite political transitions and revisions to Medicare bundled payment programs, the U.S. healthcare system’s transition to APMs has remained steady,” the report says. In 2017, some of the largest commercial plans were running nearly 50 percent of their medical spend through APMs and aim to go higher, according to Avalere.

Because value-based care rewards healthcare providers who prioritize better outcomes for their patients, leaders are turning to technology investments that can lower costs and improve care quality. Avalere says that data reliability and accessibility, including capturing information and creating algorithms, will drive outcomes-based contracting and a transition toward APMs.

“Success in APMs will require providers to create better infrastructure for proactive care management, data analytics, and timely integration of disparate data,” the report says. “More widespread availability of real-world data will enable new entities to leverage analytics and insight to benefit patients and their providers.”

An outcomes-driven environment requires fast and easy access to clinical and financial intelligence that can shine a light on the best possible course forward. To learn how LUMEDX data analytics can help your organization in the transition to value-based care by becoming more efficient and improving patient satisfaction, get information about the Cardiovascular Performance Program or email us at info@lumedx.com.

LUMEDX Blog 

Health execs hopeful about big data and analytics, new study says

​Hospital executives are optimistic that big data and analytics will achieve broader adoption in healthcare over the next two years, helping organizations maximize their return on IT investments, according to a new study by SAP and Oxford Economics.

Technology is dramatically affecting the healthcare industry and delivering new value, says the study, “Digital Transformation in Healthcare: A Positive Prognosis,” which surveyed nearly 400 hospital executives. Growth, competitive advantage and customer experience depend on the latest technologies, according to 70 percent of respondents.

Asked about specific technologies likely to achieve broader adoption over the next two years, 76 percent of healthcare leaders predicted big data and analytics, 65 percent cited cloud computing, 46 percent named the Internet of Things (IoT) and 28 percent said artificial intelligence (AI).

What might all this mean for cardiac and vascular departments? At LUMEDX, we have seen the shift to value-based payment models and the increasing importance of patient experience result in a greater reliance on data among our customer base—and a greater need for more sophisticated data analytics.

As tools and technologies evolve, we think cardiovascular service lines can be at the forefront of the digital transformation in healthcare. Performance analytics, highly efficient cardiovascular workflows, and optimal integration of clinical and operational data help our clients improve outcomes, radically reduce costs and increase revenue contribution to the hospital. To learn more, read about LUMEDX’s Cardiovascular Performance Program.

Posted by Jana Ballinger Thursday, January 04, 2018 9:37:00 AM Categories: analytics healthcare analytics performance

LUMEDX Blog 

How near-real time and even retrospective analytics can improve performance

People who work in cardiovascular departments know that retrospective clinical data is essential in the quest to improve outcomes and contain costs, but even more valuable is integrated, near real-time data analytics that illustrate how you compare to other cardiac care centers nationally.

“It’s good to be able to understand ‘this is how I did’—but that’s really reporting the news,” says LUMEDX analytics consultant Rachanee Curry, FACHE. “It’s better to be able to have real-time feedback and to be able to change your performance, finding opportunities for improvement as you go along.”

However, retrospective and real-time or even prospective analytics can all deliver crucial insights to hospitals. Even data collected for the Society of Thoracic Surgeons (STS) and the American College of Cardiology’s National Cardiovascular Data Registry® (ACC NCDR) can be used to understand service line performance, view outliers and identify root causes. These are the insights that enable improvement.


Rachanee Curry, LUMEDX analytics consultant, talks about the kinds of insights that can enable improved outcomes and reduced costs.

“Being able to focus in on those areas where your program is performing differently than best practices means you can improve the processes of care that lead to these variances and that will invariably lead to improved clinical outcomes,” Curry says.

LUMEDX offers data analytics solutions that enable physicians and service line leaders to monitor, measure, and improve all aspects of cardiovascular services—to help drive performance while reducing costs. LUMEDX is also the No. 1 provider of ACC and STS Registry Software. To learn more, email info@lumedx.com.


Posted by Jana Ballinger Monday, October 16, 2017 9:30:00 AM Categories: ACC data healthcare analytics NCDR performance Society of Thoracic Surgeons STS

LUMEDX Blog 

Healthcare leaders believe predictive analytics will yield significant savings

More than half of healthcare executives polled in The Predictive Analytics in Healthcare Trend Forecast by the Society of Actuaries expect the use of predictive analytics to shave a significant amount off their organization’s budget. Fifty-seven percent of study respondents believe predictive analytics will save 15 percent over the next five years, with 26 percent expecting savings of more than 25 percent over the same period.

Despite hurdles such as cost, 93 percent of those polled believe analytics are important for the future of their business. The study, which polled 223 provider and payer executives, found that while just 47 percent currently deploy predictive analytics, 88 percent plan to either launch or expand current initiatives in the next five years. 

“This data underscores the value executives place on predictive analytics across both payer and provider organizations,” says Ian Duncan, a fellow at the University of California at Santa Barbara and one of the study’s authors. “As value-based care gains prominence, smart organizations are leveraging predictive analytics to forecast health and clinical outcomes to help achieve the Triple Aim.”

In the below video, LUMEDX Vice President of Strategic Products Praveen Lobo notes that even near-real time data analysis represents a major step forward on the path to healthcare’s Triple Aim. Watch the video to learn how analytics enables improved decision-making for physicians as well as CV leadership.

 


Praveen Lobo, Vice President of Strategic Projects, talks about how analytics can help cut costs while improving your hospital's outcomes and patient satisfaction.

 

The leader in cardiovascular data intelligence and a pioneer in cloud-powered healthcare solutions, LUMEDX offers an all-inclusive suite of software and services that enables meaningful analytics, high-performance workflows, optimal integration of clinical and HIS data, and better continuity of care.

For more information on LUMEDX’s HealthView Analytics and the Cardiovascular Performance Program, visit lumedx.com/cardiovascular-performance-home


Posted by Jana Ballinger Monday, September 18, 2017 9:16:00 AM Categories: analytics healthcare analytics

Data accessibility viewed as key to closing the gap between value-based care and health IT 

​Although much progress has been achieved in digitizing the healthcare system, today's health IT infrastructure still struggles to support a transition to "value-based care," according to a new report from the American Medical Informatics Association.

"Provider organizations pursuing new models of health care delivery and payment are finding that their electronic systems lack the capabilities needed to succeed," the study asserted. "The result is a chasm between the current health IT ecosystem and the health IT ecosystem that is desperately needed."

The report, titled, "Crossing the health IT chasm: considerations and policy recommendations to overcome current challenges and enable value-based care," outlines policy recommendations for patients, providers and researchers to improve access to healthcare data for all the groups and proposes new standards for IT systems and applications.

LUMEDX, the leader in cardiovascular data intelligence and a pioneer in cloud-powered healthcare solutions, offers a comprehensive suite of software and services enables meaningful analytics, high-performance workflows, optimal integration of clinical and HIS data, and improved continuity of care.

For more information on LUMEDX HealthView solutions, please visit www.lumedx.com or email info@lumedx.com.​

Report shows registries advancing patient care for heart patients  

Two doctors inserting stent Registries continue to improve the effectiveness and safety of patient care of heart disease in hospitals throughout the U.S.

A recent report shows registry data is providing unique perspectives into the care and outcomes of heart disease and outlines the strength of national quality programs, like NCDR, in advancing the effectiveness of patient treatments.

Published in the Journal of the American College of Cardiology, the study addressed trends in heart disease care from the American College of Cardiology's National Cardiovascular Data Registry.

The authors examined patient populations, participating centers and patterns of care based on 2014 data from four of the 10 NCDR programs -- CathPCI Registry, ICD Registry, ACTION Registry-GWTG and IMPACT Registry.

"We were able to report on the care and outcomes of patients undergoing common cardiovascular procedures, including percutaneous coronary interventions, implantable defibrillators, and interventions for congenital heart disease as well as for patients with acute heart attacks," NCDR Management Board Chair and lead author of the study Frederick A. Masoudi, MD, MSPH, FACC , said. "In some cases, hospitals are consistently providing excellent care; the registries, however, allow us to identify those aspects of care where the cardiovascular clinical community can improve."

The full report can be accessed here.

LUMEDX, as the leading independent provider of ACC and STS registry software, believes registries are key to Cardiovascular Information Systems. For more information about LUMEDX registry solutions, view a video highlighting LUMEDX Registry Interoperability.

 

For healthcare services, the cloud has arrived 

It's becoming increasingly clear that healthcare providers are reaping big dividends from hosting data and services in the cloud.

"Hosting applications in the cloud can help you scale as you grow, collaborate with partners and patients, store and manage huge amounts of patient data and get a bigger return on your IT investments in the long run," Molly True wrote last week in HealthCare Business & Technology

She cited the ability for hospitals to combine a public cloud offering with a private cloud offering where the systems are connected and interoperate with other existing systems. Providers can also keep some of their most sensitive data on their premises and some of their applications.

The U.S. Department of Health and Human Services is following this trend. Last week, it announced plans to increase the adoption rate of cloud services this year from 18.5 percent to 30 percent of its systems.

"We have worked to embrace cloud," HHS Chief Information Officer Beth Killoran said. "If you do cloud properly, the implementation should be transparent to the workforce. When we did our financial systems upgrade last year, we had to provide training on the new capabilities -- not the platform. The effort has been a great success."

Moreover, in a recent survey, prominent healthcare executives predict a drastic shift from on-premise IT infrastructure into the cloud. That includes electronic health records, clinical decision support and analytics.

"I predict that five years from now none of us will have datacenters," Beth Israel Deaconess Medical Center CIO John Halamka said, according to Healthcare IT News. "We're going to go out to the cloud to find EHRs, clinical decision support, analytics."

LUMEDX's HealthView delivers HIPAA-compliant data management and analytics solutions via the cloud, making important data available to your providers-anywhere, anytime-while reducing the time and money you spend on IT infrastructure. To learn more about our various cloud and on-premise options, contact us at info@lumedx.com.

Webinar to Highlight a Winning Data Analysis Strategy 

Christiana Care Health System, one of the largest healthcare providers in the mid-Atlantic, has achieved wide-ranging improvements in both clinical performance and business outcomes after implementing strategies designed to ensure top-quality care delivery while at the same time containing costs.

Christiana's success began with a data strategy that will be laid out in a complimentary webinar called Delivering Clinical and Business Excellence: The Power Of Data Transparency. Subtitled How Christiana Care Leverages Cardiology Data to Improve Care Quality and Contain Costs, the webinar will take place on Thursday, Feb. 2.

It will include discussions on: 

  • How data transparency drives cost and outcome awareness and impacts the CV service line
  • Christiana Care's experience comparing the costs and benefits of undertaking a costing model
  • The value of case attributes

Presented by Leslie Mulshenock, Director of Heart & Vascular Services, and Matthew Esham, Heart & Vascular Service Line Manager, the webinar will also include a summary of the costs and benefit of Christiana's strategic improvement plan, which has resulted in optimal reimbursement, lower costs-per-case and higher patient satisfaction. 

A live Q & A will conclude the Feb. 2 event, which will take place at 1 p.m. Eastern time, 12 p.m. Central and 10 a.m. Pacific.

Click here to register for this complimentary event.

Are You Ready for the New Cardiac Bundled-Payment Program? 

Heart hospital across the country are preparing for the new mandatory bundled-payment program for cardiac care. Set to begin this July, the program makes hospitals in certain markets accountable for the quality and cost of care for bypass and heart attack patients until 90 days after discharge.

CMS predicts that the program-which also covers knee and hip replacements-will save the federal government as much as $159 million between now and 2021. In 2014, the CMS said, heart attack treatment for 200,000 patients cost Medicare more than $6 billion. From one hospital to another, the cost of treating heart attack patients varies by as much as 50 percent, according to Modern Healthcare.

The bundled-payment model allows hospitals to keep the savings they achieve if they spend less than a target price for an episode of care. However, hospitals that exceed the target price must repay Medicare. Target prices will be determined retrospectively.

LUMEDX offers a path to meeting or beating those targets. Our Cardiovascular Performance Program helps facilities gather the consolidated CV data they need to see and manage quality and cost of care in real time. The program helps CV service lines analyze their data, identify higher-risk patients and act to ensure they are performing at or better than national targets so they can keep any savings they have realized-and avoid repaying Medicare. 

Inpatient costs are likely to account for most of the cost of the 90-day bundled-payment period, and LUMEDX is uniquely positioned to help providers reduce those expenses. Our Cardiovascular Performance Program can help CV service lines contain costs while improving outcomes by reducing:

  • Door-to-balloon time
  • Door-to-Troponin-testing time
  • PCI and CABG complications
  • PCI and CABG cost-per-case variation

These are just a few of the many ways LUMEDX solutions can help heart hospitals demonstrate best-quality, best-value care delivery-and uncover the solutions to radical improvement. 

How will the bundled-payment program impact your CV service line? Share your thoughts in our comment section, below. 

3 New Clients Join LUMEDX Family 

Hospitals in Alabama, Massachusetts and Texas begin CVIS implementation

LUMEDX is happy to welcome to our family three new clients: Marshall Medical Centers; Holyoke Medical Center; and Baylor Scott & White Health, the largest not-for-profit healthcare organization in Texas.

The first Baylor Scott & White location to implement the LUMEDX solution is Baylor Jack and Jane Hamilton Heart and Vascular Hospital in Dallas. LUMEDX is providing the hospital with comprehensive cardiovascular data management that:

  • Connects isolated data sources,
  • Integrates with the enterprise electronic health record (EHR), and
  • Eliminates redundant data collection.

Holyoke Medical Center has gone live with our PACS with Echo Workflow software. After all phases of the CVIS deployment are completed, the secure, cloud-delivered software-as-a-service (SaaS) solution will provide the medical center-located in Holyoke, Massachusetts-with comprehensive management of its Echo, Nuclear, ECG, Holter and Stress workflows, and will offer remote access for physicians, allowing them to access data and complete reports from any location.

The deployment for Marshall Medical Centers is taking place at two hospitals: Marshall Medical North in Guntersville, Alabama; and Marshall Medical South in Boaz, Alabama. Both hospitals have implemented Echo Workflow and ECG-Holter software, which will help them improve performance and quality of care while containing costs and minimizing inefficiency.

We look forward to long and productive relationships with our new partners!

 

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