| Source: MedeAnalytics MedeAnalytics
Richardson, Texas, UNITED STATES
RICHARDSON, Texas, Sept. 21, 2022 (GLOBE NEWSWIRE) — MedeAnalytics, a healthcare analytics software-as-a-service (SaaS) leader, announced today its Impact Award winners at the MedeAnalytics Impact Summit, its flagship client event that took place virtually on September 20-21, 2022. The winner was Presbyterian Healthcare Services with Kaiser Permanente and Wise Health System as the first and second runner ups. Baker Tilly was also recognized as the first ever Partner Impact Award winner, a new award introduced this year. Each organization was recognized for their innovation and measurable analytics impact in healthcare.
Winner: Presbyterian Healthcare Services with Soyal Momin, Chief Analytics Officer, Laura Calkins, Vice President, Revenue Cycle Management, and Jay Olive, Director, Information Governance and Business Intelligence
Presbyterian Healthcare Services (PHS), headquartered in New Mexico, is an integrated health system and plan with 630,000 members and 9 hospitals. They had a strategic need to differentiate their offerings and aspired to leverage analytics as a competitive differentiator. They commenced their partnership with MedeAnalytics by adopting its RCM solutions for the mid-cycle and back office, since they were not getting the level of granularity needed from their Epic EMR alone.
With the MedeAnalytics Suite of RCM solutions, PHS reduced their total cost to collect by $450,000 and reduced the time spent consolidating data by 75%, resulting in $272,000 in savings alone. They also reduced their denials by $806,000 and lowered Bad Debt and Charity Care by $680,000.
With the MedeAnalytics Revenue Integrity solution specifically, PHS saw $1 million in reimbursement improvement triggered by an increase in their CMI, as well as an additional $214,000 in savings from a 10% reduction in the time it takes to manage audits.
In total, PHS gained $3.4 million in total value, a 344% ROI and a nine-month payback on their investment in the MedeAnalytics RCM solutions.
First Runner Up: Kaiser Permanente with Kathryn Elder, Senior Consultant and David Holt, Director of Underwriting
Kaiser Permanente, with 763 hospitals and medical offices serving 12.5 million members across 8 states and the District of Columbia, was challenged by multiple, disconnected data sources that inhibited a “single version of the truth.” The result was that custom reports for their customers and brokers took as long as 90 days to deliver, which impacted customer satisfaction negatively and was unacceptable.
With solutions from MedeAnalytics, Kaiser Permanente reduced ad-hoc report turnaround times for employers and brokers by 75%, lowered ad-hoc report turnaround times for healthcare analysis and reporting to support the business by 80%, and saw a six-month payback (ROI) on their investment in MedeAnalytics solutions.
Second Runner Up: Wise Health System with Lynn Giddens-Branscum, Vice President of Revenue Cycle Management and Audits and Alyssa Maxwell, Director of Health Information Management
Wise Health System was confronted with multiple analytics and reporting pain points triggered by the disconnect between their clinical and financial operations as well as their people, process and systems. This presented performance challenges in different areas, including financial, operational and clinical. They leveraged RCM solutions from MedeAnalytics to bridge this chasm and enable measurable value and impact.
With the MedeAnalytics portfolio of RCM solutions, Wise Health System saw unspecified code usage drop by 19%, and they greatly improved their appeal success rates by 36.6%, their Case Mix Index (CMI) by 34.7%, and their CC/MCC capture rates by 129.2%.
Wise Health System also bridged their financial and clinical processes to improve their congestive heart failure and diabetes-related admissions. They saw an 83.3% reduction in readmission rates for congestive heart failures, a decrease of 24.2% in average A1C for prediabetic and diabetic patients on a year-over-year (YoY) basis, and an 11% improvement in patient satisfaction.
Partner Impact Award: Baker Tilly with Heather Herc and Brad Gummig
Baker Tilly partnered with MedeAnalytics to craft and deploy the cost of care optimization solution at Indiana Regional Medical Center (IRMC).
A unified solution with data ingested from 10 disparate data sources across 8 functional areas has culminated in over $1.1 million in value from both cost savings as well as payer reimbursements.
“This event is one of the ways we’re helping orchestrate an ecosystem of healthcare innovators, and it’s nothing short of amazing to see what our customers have been able to do with the MedeAnalytics platform and solutions to impact their organizations,” said Steve Grieco, chief executive officer of MedeAnalytics. “To enable measurable value for our customers is our mission, and it’s a privilege to be able to bring together healthcare leaders to share best practices and engage in thought-provoking and inspiring discussions. Congratulations to our 2022 Impact Award winners.”
# # #
MedeAnalytics is a leader in healthcare analytics, providing innovative solutions that enable measurable impact for healthcare payers and providers. With the most advanced data orchestration in healthcare, payers and providers count on us to deliver actionable insights that improve financial, operational, and clinical outcomes. To date, we’ve helped uncover millions of dollars in savings annually. To learn more, visit www.medeanalytics.com, Twitter, LinkedIn, and The Impact Initiative: The MedeAnalytics Blog.
Sr. Director, Marketing Communications
Image 1: MedeAnalytics Impact Summit 2022
MedeAnalytics Impact Summit 2022
This content was issued through the press release distribution service at Newswire.com.