Case Study: How one East Coast Hospital Achieved 12% Savings with Population Health Data
Due to rising healthcare costs and the shift to value-based care, many organizations are now looking to improve quality and reduce costs. In our recent case study, we highlight how the hospital was able to leverage our population health solution and consulting services to adopt an innovative approach to population health within its workforce, reducing per member per month (PMPM) costs by 12 percent and saving nearly $2.5 million in 2016.
Prior to MedeAnalytics, the East Coast Hospital was unable to draw insights from its data. The health system wanted a solution that would allow them to reduce costs, while also improving the health and wellness of their employees.
Through our partnership, the hospital was able to identify which employee patient groups were at risk for chronic conditions and high-cost care. For example, they discovered that a high percentage of pharmacy spending came from specialty drugs and were able to save at least $100,000 with generic drug substitutions. The partnership also allowed the hospital to achieve the following:
- Reduce one employee’s $700 monthly prescription costs to $9
- Build a foundation for population health initiatives
- Devise a focused plan design around data insights
These accomplishments have established a building block for the healthcare organization to continue its march towards value-based care. “We see this as an important stepping stone towards our goal of having at least 50 percent of our payments being tied to value-based models by 2018,” says the former CEO.
To find out how our Population Health Solution and Consulting Services can help your organization in their journey to value-based care, access more information here and here.
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