LABORATORY DATA ANALYSIS FOR VALUE BASED CARE
Is your organization using laboratory results to improve healthcare outcomes and reduce the total cost of care?
Longitudinal laboratory results are underutilized in healthcare and Rhodes Group’s algorithms automatically interpret lab data to provide significant benefits for healthcare organizations.
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More accurate detection, diagnosis, and treatment – We are unique in our ability to correlate lab data to outcomes and measure its value. Going beyond medication data and diagnosis codes, our patent-pending algorithms automatically interpret lab results to readily detect patient conditions, risk of comorbidities and care gaps at an earlier stage.
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Maximizing risk adjustment – Rhodes Group can help organizations who participate in Medicare Advantage and Market Exchange plans. We help identify patients who need proper hierarchical categorical classification, which can increase risk adjustment payments for the delivery system or the payer.
Click here to see how we were able to render a potential $3.7 million in value for a payer with 7,000 members, an overall lift of 65% compared to the previous year.
Rhodes' Laboratory Data Analysis uses the below process to determine your abilities and the potential value of your lab data:
Evaluation of Laboratory Infrastructure and Clinical Impact
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Review current information technology infrastructure (cadence of accumulating lab data, storage techniques, analytic tools, and interfaces).
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Determine if any automated lab data interpretation is being performed.
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Evaluate existing infrastructure’s ability to analyze all aspects of laboratory data to identify various conditions, risk factors, and outcomes (lab test menu, additional data sets such as ask-at-order-entry, testing location, insurance information, database language, etc.).
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Assess longitudinal patient identification methods (master patient indexing method).
Use Case Determination and Market Valuation
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Analyze a sample patient population to develop several use cases for implementing automated laboratory data analysis.
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Show the economic value of use cases.
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Provide an organizational plan to move towards a value-based model i.e., pay for performance, upside risk, downside risk, etc.
Findings & Deliverables
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Comprehensive analysis with an actionable plan and strategy to move forward.
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Results of use case analysis – Show lab’s current data value and enhancement of existing analytics.
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Value-based care recommendations, which includes stratification by condition, HCV, diabetes, CKD, and more.
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Potential market value, which will be stratified by payer, enabling you to identify and pursue the highest-value opportunities.
