Innovative use of technology leads to significant cost reductions and improved patient care.
CARY, N.C., Oct. 22, 2024 /PRNewswire-PRWeb/ -- Generations Family Practice, a North Carolina based primary care provider with 8 clinics and 65,000 active patients, has been selected as one of the finalists in the Provider Sector for the 2024 Gartner® Eye on Innovation Awards for Healthcare & Life Sciences.
Generations Family Practice, managed by Cary Medical Management, a medical management services organization, in our view has demonstrated remarkable innovation in leveraging health information exchange (HIE) data to improve patient care and reduce costs. The practice developed an electronic health record (EHR) agnostic solution that combines patient data from the North Carolina state-designated HIE (NC HealthConnex), accountable care organization (ACO) portals, and the clinic EHR to provide a more comprehensive view of patients' medical conditions and health risks.
We believe that this innovation directly addresses the rising challenge of healthcare costs in the U.S. by focusing on the fragmented nature of patient data.
Our key results include:
1. A 32% total medical cost reduction for 12,000 attributed patients managed for United Healthcare, Aetna, and Cigna in 2023.
2. Projected shared savings and incentive payments 2.5 times higher than in 2022, adding 8%+ profit margin.
"We are proud to be recognized as a finalist in the Gartner Eye on Innovation Awards," said Siu Tong, PhD, CEO of Generations Family Practice. "We believe that our team's dedication to improving patient care while reducing costs has led to this groundbreaking solution that addresses critical challenges in the healthcare industry."
The innovative solution developed by Generations Family Practice uses robotic technology to prioritize and insert relevant missing data from HIE records and ACO portals directly into patient records in the EHR. This approach allows healthcare providers to focus on treating key problems within limited encounter times, leading to improved patient outcomes and substantial cost savings.
For more information on the Gartner Eye on Innovation Awards for Healthcare & Life Sciences, please visit www.gartner.com/en/about/awards/eye-on-innovation/healthcare.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. The identification of 2024 Gartner Eye on Innovation Awards for Healthcare & life Sciences finalists or winner(s) is not an endorsement by Gartner of any vendor, product or service, but is a recognition by industry peers for innovation excellence that inspires others.
About Generations Family Practice:
Generations Family Practice is a primary care provider with 8 clinics and 65,000 active patients, dedicated to delivering high-quality, cost-effective healthcare services. Managed by Cary Medical Management, Generations is committed to leveraging innovative technology to improve patient care and outcomes.
Media Contact
April Koontz, Cary Medical Management, 1 919-674-8411, [email protected], www.carymso.com
SOURCE Cary Medical Management
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