Washington, DC (PRWEB) October 15, 2014
Horizon Blue Cross and Blue Shield of New Jersey recently made a significant investment in COTA, Inc., a technology company focused on oncology management. Representatives from COTA and Horizon spoke with Atlantic Information Services, Inc.’s (AIS) Specialty Pharmacy News for October 2014 about how the deal will help transform the delivery of health care.
The deal, says the Blues plan, will help it to assist physicians in providing patient-centered care that’s focused on value and not volume. “This investment is a way that Horizon can assist companies with the development of software, data analytics and information services to further this effort,” Thomas Vincz, spokesperson for Horizon, told SPN. Kelly Choi, M.D., COTA’s chief operating officer, told SPN that Horizon “was the lead investor” in a recent round of funding.
COTA — which stands for “Cancer Outcomes Tracking and Analysis” — is both the name of the company and the product it makes, a cloud-based data platform that offers real-time clinical outcomes and cost-analysis data for cancer care.
The firm’s technology “provides clinical data and information services to enable real-time care management and comparison of quality outcomes between patients with specific types of cancer,” Vincz said. “This technology will help improve the tracking of outcome data, quality and care coordination, and standardization of the highest quality care for patients with oncologic conditions. This will allow for very specific quality and outcomes metrics to be tracked, which will support bundled payment arrangements, which are focused on reimbursement for improved quality.”
Choi added, “COTA empowers users with the ability to sort cancer patients to the highest degree of specificity,” tracking cancer treatments on a micro-level — “down to the finest of patient subtypes within a particular type of cancer.” Armed with highly specified data, she told SPN, “Oncologists can thus glean a level of actionable and insightful analysis that no other system today can do.”
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Specialty Pharmacy News is a monthly newsletter packed with business news and management strategies for containing costs and improving outcomes related to high-cost specialty products. Designed for health plans, specialty pharmacies, PBMs, pharma companies, providers and employers, the hard-hitting newsletter contains valuable insights into benefit design tactics, specialty markets for certain conditions, formulary decisions, merger and acquisition activity, payer-provider partnerships, patient adherence strategies, and new products. Visit http://aishealth.com/marketplace/specialty-pharmacy-news for more information.
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