Milliman’s efficiency benchmarks help hospitals know exactly where to focus their critical resources. The benchmarks are case-mix adjusted and updated quarterly so that hospitals can continually seek new efficiencies.
SEATTLE (PRWEB) November 13, 2018
MCG Health, part of the Hearst Health network and a leading provider of informed care strategies, and Milliman, a premier global consulting and actuarial firm, today announced a joint offering—Indicia Hospital Performance Index. Combining MCG care guidelines and benchmarks with Milliman’s rigorous actuarial and statistical analysis, this solution turns massive amounts of data into meaningful information to support determinations on where clinical improvement efforts will be most impactful.
MCG’s Indicia Hospital Performance Index helps healthcare leaders develop clinical improvement strategies to streamline operations and reduce inefficiencies. This solution takes national data sets, performs adjustments based on the acuity of patients, and then analyzes and creates case-mix adjusted benchmarks to deliver actionable areas of opportunity within an organization. Benchmarking allows for relevant performance assessments and competitive analysis to support decisions around where to expand into new markets or take on additional risk. Reporting reveals opportunities to reduce length of stay, readmission rate, observation rate, and observation conversion rate. Progress can be easily monitored with standard and custom reports that analyze trends and track the effectiveness of improvement efforts quarter by quarter and year over year.
“Milliman’s efficiency benchmarks help hospitals know exactly where to focus their critical resources. The benchmarks are case-mix adjusted and updated quarterly so that hospitals can continually seek new efficiencies,” said Scott Harris, Managing Director with Milliman.
“Indicia Hospital Performance Index not only highlights top areas of opportunity, it provides the ability to tie those opportunities directly to an evidence-based clinical guideline so that hospitals know not just where to improve, but how to provide the most efficient and effective patient care,” said Jon Shreve, president and CEO of MCG Health.
MCG, part of the Hearst Health network, helps healthcare organizations implement informed care strategies that proactively and efficiently move people toward health. MCG’s transparent assessment of the latest research and scholarly articles, along with our own data analysis, gives patients, providers and payers the vetted information they need to feel confident in every care decision, in every moment. For more information, visit http://www.mcg.com or follow our Twitter handle at @MCG_Health.
About Hearst Health
The Hearst Health network includes FDB (First Databank), Zynx Health, MCG, Homecare Homebase, MedHOK, Hearst Health Ventures and the Hearst Health Innovation Lab (http://www.hearsthealth.com). Hearst also holds a minority interest in the precision medicine and oncology analytics company M2Gen. The mission of Hearst Health is to help guide the most important care moments by delivering vital information into the hands of everyone who touches a person’s health journey. Each year in the U.S., care guidance from Hearst Health reaches 85 percent of discharged patients, 205 million insured individuals, 70 million home health visits and 3.2 billion dispensed prescriptions.
Milliman is among the world’s largest providers of actuarial, risk management and technology solutions. Our consulting and advanced analytics capabilities encompass healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit milliman.com.