EAST WINDSOR, N.J., Dec. 3, 2019 /PRNewswire-PRWeb/ -- SpectraMedix recently announced the addition of the Value-Based Payment (VBP) Cohort Manager to its SpectraMedix VBP Performance Suite. The VBP Cohort Manager allows users to easily group individuals by clinical conditions, costs, mental health and substance use disorder diagnoses, social care needs, geographic proximity, provider attribution, and co-morbidities, thereby, aligning the care teams' focus with the individual's needs in one scalable, cost-effective tool. Once defined, cohort member details are pushed to payers and providers through The SpectraMedix VBP Performance Portal or integrated with existing payer and provider portals.
The VBP Cohort Manager is able to integrate any data type or source and make it available for building cohorts. Its Cohort Builder tool enables users to define priority cohorts based on parameters relevant to the plan or payer. Once defined, the cohort can be assigned to a specific care team.
Users of the VBP Cohort Manager will have the advantage of assembling care teams to develop interventions based on the specific needs of a cohort's members. Benchmarking, tracking, and monitoring can be performed individually, across the cohort, or by a provider to drive efficient, cost-effective care protocols.
"We are leveraging the SpectraMedix Cohort Manager to support the providers in our region as they move towards a Value-Based Payment (VBP) environment. The care teams have access to actionable data from multiple types of community organizations, providing a comprehensive view into their cohort, including the availability of support services," said Emily Pape, PhD, Director of Population Health at Care Compass Network. "Although the concept of cohort development is not new, using the SpectraMedix Cohort Manager has added value to our efforts as our networks mature within VBP."
"Multiple factors come into play when treating individuals with chronic conditions," said SpectraMedix CEO Raj Lakhanpal, MD. "For example, take geographic location and diabetes. With cohort management, providers may determine that the member's neighborhood lacks healthy food choices. Bringing a social worker or nutritionist to the care management team adds another layer of educational opportunity to the care plan. The most effective care management services recognize the neighborhood constraints that members face and provide social support in those areas."
Among the features of the SpectraMedix Cohort Manager are risk scores, unlimited cohort creation, and the ability to download cohort member lists.
Rajan Kumar, MD, PhD, SpectraMedix Vice President of Data Science and Healthcare Analytics, also remarked that "the Cohort Manager, a cloud-hosted web application, can be configured to the specific needs of care teams and administrators based on user roles. Users can build well-defined cohorts by choosing data attributes in a user-friendly interface. ED and admissions data can be integrated to present near real-time cohort updates. The results users can expect include the ability to standardize cost-effective interventions across all cohort members, to close care gaps more effectively, and to achieve overall improved population health."
The VBP Cohort Manager is part of the SpectraMedix VBP Performance Suite. In addition to the Cohort Manager, the VBP Performance Suite includes the VBP Contract Modeler and the VBP Performance Portal. The Contract Modeler enables payers and providers to compare terms pre-contract, during the life of the contract, and for reconciliation and future contract improvement. The VBP Performance Portal pushes utilization and performance updates to the provider, along with near real-time payment and incentive status. The VBP Performance Suite provides users with a closed-loop configuration for ongoing performance and cost-related support. The Suite, including the new Cohort Manager, is configurable for any health business line, including commercial and government-funded plans and self-insured programs. SpectraMedix also offers flexible reporting and data management solutions for accountable care organizations and other provider types.
About SpectraMedix:
SpectraMedix helps healthcare payers and providers make the most of the journey to value-based payment. The SpectraMedix Platform™ ensures they have access to the right data, at the right time, to succeed in the range of value-based arrangements. The Platform's advanced data aggregation, analytics, and performance improvement solutions provide healthcare organizations care gap resolution, financial incentive quantification and forecasting, prospective risk analysis, contract analytics and an Enterprise Master Patient Index delivered in a secure, cloud-based environment. Its data integration capabilities include real-time EHR interfaces, including FHIR, and APIs can be leveraged to import data directly from EHR systems on-demand and in real-time. SpectraMedix is among the top vendors supporting Medicaid reform initiatives in New York State.
About Care Compass Network:
Care Compass Network (CCN) is a not-for-profit, community organization that was created to champion new models of providing Medicaid members and the community at large, with higher quality of care, while reducing expenses through care coordination and community-focused care and education.
CCN convenes and collaborates with over 180 partner organizations, which include hospital systems, community-based organizations, nursing homes, behavioral health and substance use disorder programs, social services agencies, and similar entities.
CCN has received funding from the New York State Department of Health to develop a comprehensive plan for expanding and improving healthcare delivery within a 9-county region, as well as help healthcare organizations make the transition from a traditional fee-for-service model to a new, pay-for-performance approach or Value-Based Payment (VBP) program.
SOURCE SpectraMedix
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