New Study Highlights Promotion of Quality and Cost Savings in Self-Funded Plan
Houston, TX and Annapolis, MD (PRWEB) February 27, 2014
RadSite™, a leading certification organization promoting quality-based imaging practices, is announcing the completion of a new study highlighting the accreditation agency’s emerging role in promoting smart imaging networks that encourage quality and cost savings.
According to Garry Carneal, RadSite’s president & CEO, “The new comparative effectiveness study, which focuses on a self-funded health plan of service-based employees, further documents the impact the RadSite Assessment Program and the Network Imaging Certification Program can have on providing health plans with an effective strategy to participate in a value-based purchasing environment that offers meaningful return on investment (ROI).”
In March of 2013, RadSite released its first independent Return on Investment (ROI) study regarding the impact of the RadSite certification program on a national health plan. This study, completed by an independent consulting firm, Trajectory® Healthcare, reported an ROI impact on average of 5.8:1. A summary of the study may be requested online.
To further explore the impact of RadSite’s programs, RadSite re-commissioned the independent research firm to conduct a second program evaluation assessing the financial impact of its credentialing program on a smaller self-funded health plan.
“For a second time, RadSite should be commended for opening up its program data for an objective third-party evaluation,” says Thomas Wilson, PhD, DrPH, epidemiologist and founder of Trajectory Healthcare. “The latest Trajectory model projects an impressive and statistically significant average annual ROI of over ‘10 to 1’ for the self-funded health plan that was the subject of the study.”
By way of background, after the self-funded plan purchased the RadSite Assessment Program, it required all providers who billed for the technical component of diagnostic imaging to complete RadSite’s comprehensive online assessment questions. The Trajectory evaluation was based on an examination of the cost patterns (from available claims data provided by the client) per provider (based on federal tax ID) one year before the RadSite certification compared to the cost patterns one year following the attestation. Providers were only included if there was evidence of participation in the network for the full year before and the full year after their attestation.
The “RadSite effect,” leading to the positive ROI, starts when a health plan or provider organization requires all network imaging providers to complete the RadSite Assessment Program, which requires each imaging provider to implement quality-based workflows. The result is the promotion of patient-based safety activities, a reduction in unnecessary imaging, and the creation of a value-based network. This positive impact is partially driven by the depth and scope of the online assessment questions, the educational opportunities that RadSite offers to each provider including telephonic coaching by RadSite customer service representatives, the on-going desktop and on-site audits, and the annual requirement of re-certification to RadSite’s standards.
RadSite offers an array of quality-based, cost-savings assessment, certification and accreditation programs that promote best practices in imaging and other specialty services across the United States and its territories. The comprehensive programs highlight opportunities for imaging facilities to achieve a high level of quality that benefits all members of the health care continuum. RadSite also offers educational and reporting services for health plans, imaging providers, regulators, consumers and others.
Another RadSite study will be published later this spring that documents the reduction of radiation exposure to the population as a benefit of requiring the RadSite Assessment Program. To learn more about RadSite’s Programs, click here.
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About RadSite™ (http://www.RadSiteQuality.com)
Founded in 2005, RadSite’s mission is to promote quality-based practices for imaging systems across the United States and its territories. RadSite has reviewed over 24,000 imaging facilities covering about 60,000 imaging systems. RadSite’s certification and accreditation programs help assess, track and report imaging trends in an effort to enhance imaging procedures and outcomes. RadSite also offers educational programs, publishes issue briefs, and underwrites research on a complimentary basis to raise awareness of patient safety issues and to promote best practices. The organization is governed by an independent board and committee system, which is open to a wide-range of volunteers to ensure transparency and accountability. RadSite is expanding its activities and resources to serve patients, providers, payers, government agencies, and other stakeholder groups. To learn more about RadSite and the Trajectory studies, please contact us at (855) 440-6001 or info(at)radsitequality(dot)com.