RICHARDSON, Texas, Sept. 21, 2022 (GLOBE NEWSWIRE) — MedeAnalytics, a leading healthcare software-as-a-service (SaaS) analyst, today announced its Impact Award winners at its flagship MedeAnalytics Impact Summit -Customer event that took place Virtually on September 20th and 21st, 2022. The winner was Presbyterian Healthcare Services with Kaiser Permanente and Wise Health System as first and second place winners. Baker Tilly was also recognized as the first-ever winner of the Partner Impact Award, a new award introduced this year. Each organization was recognized for its innovation and measurable analytical impact in healthcare.
Winner: Presbyterian Healthcare Services, featuring Soyal Momin, Chief Analytics Officer, Laura Calkins, Vice President, Revenue Cycle Management, and Jay Olive, Director, Information Governance and Business Intelligence
Headquartered in New Mexico, Presbyterian Healthcare Services (PHS) is an integrated healthcare system and plan with 630,000 members and 9 hospitals. They had a strategic need to differentiate their offerings and sought to leverage analytics as a competitive differentiator. They began their partnership with MedeAnalytics by adopting their mid-cycle and back-office RCM solutions, as they were unable to achieve the granularity they needed with their Epic EMR alone.
With the MedeAnalytics suite of RCM solutions, PHS reduced its overall collection costs by $450,000 and reduced the time it took to consolidate data by 75%, resulting in savings of $272,000 alone. They also reduced their rejections by $806,000 and reduced bad debts and charities by $680,000.
With the MedeAnalytics Revenue Integrity solution specifically PHS saw a $1 million improvement in reimbursements triggered by an increase in their CMI and an additional $214,000 in savings from a 10 percent reduction in the time it takes to administer audits becomes.
Overall, PHS achieved a total value of $3.4 million, a 344% ROI, and a nine-month payback on their investment in 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 in 8 states and the District of Columbia, has been challenged by multiple, unconnected data sources that prevent a “single version of the truth.” The result was that custom reports were taking up to 90 days for their clients and brokers, which had a negative impact on client satisfaction and was unacceptable.
Using MedeAnalytics solutions, Kaiser Permanente reduced ad hoc report turnaround times for employers and brokers by 75%, reduced ad hoc report turnaround times for health analytics and business support reports 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 faced multiple analysis and reporting issues caused by the disconnect between their clinical and financial operations, as well as their people, processes and systems. This posed challenges for performance in a number of areas, including financial, operational and clinical. They used MedeAnalytics RCM solutions to bridge this gap and enable measurable value and impact.
With the MedeAnalytics portfolio of RCM solutions, Wise Health System saw a 19% decrease in unspecified code usage and they were able to increase their appeal success rates by 36.6%, their Case Mix Index (CMI) by 34, 7% and significantly improve their CC/MCC capture rates by 129.2%.
Wise Health System also bridged their financial and clinical processes to improve their congestive heart failure patients and diabetes-related admissions. They saw an 83.3 percent reduction in congestive heart failure readmission rates, a 24.2 percent year-on-year (YoY) decrease in mean HbA1c in prediabetic and diabetic patients, and an 11 percent improvement in patient satisfaction.
Partner Impact Award: Baker Tilly with Heather Herc and Brad Gummig
Baker Tilly partnered with MedeAnalytics to develop and deliver the solution to optimize care costs at Indiana Regional Medical Center (IRMC).
A unified solution with data from 10 disparate data sources across 8 functional areas has resulted in over $1.1 million in value in both cost savings and reimbursements.
“This event is one of the ways we are helping to orchestrate an ecosystem of healthcare innovators and it is simply amazing to see what our customers have been able to do with the MedeAnalytics platform and solutions to impact their organisations” , said Steve Grieco , CEO of MedeAnalytics. “Our mission is to provide measurable value to our customers and it is 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 leading provider of 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 depend on us to deliver actionable insights that improve financial, operational and clinical outcomes. To date, we’ve helped generate 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 distributed via Newswire.com’s press release distribution service.
MedeAnalytics Impact Summit 2022