Predilytics Announces Availability of its Care Directions Suite
Solution identifies high-risk health plan members and points the way to more effective and efficient care management strategies
BURLINGTON, Mass., Jan. 27, 2014 /PRNewswire/ -- Predilytics™, the advanced predictive analytics company dedicated to answering healthcare's toughest questions, today announced the immediate availability of its Care Directions Suite. Designed to identify health plan members at risk for costly episodes such as hospital admission or end of life, Predilytics Care Directions Suite points to those individuals most likely to be both impactable by, and receptive to, highly-targeted care management strategies.
The top 1% of the US population accounts for over 20% of annual healthcare spending1 and hospital admissions account for 31% of these costs2. Health plans, providers and other risk-bearing organizations need a way to predict which individuals are most likely headed for high-cost episodes of care. Among these individuals, plans and providers must understand who can be positively impacted by potential interventions, and who will be receptive to those interventions. Otherwise, organizations will waste precious time and resources on members unlikely to benefit from even the best care management.
The Predilytics Care Directions Suite begins by identifying cost and risk for individual members in the most difficult-to-predict and expensive categories of care:
- Hospital admission
- Hospital re-admission
- Advanced illness
- Admission to skilled nursing
- Inpatient rehabilitation
- End of life
Then, the Predilytics Value Optimizer™ combines these outputs with external (non-health plan) data to predict the likelihood of each member's impactability for the condition(s) identified, as well as their receptivity to potential interventions. The result is a unique and prioritized list of individual members and the interventions most likely to improve quality of care and satisfaction, while still reducing cost and utilization.
"The Predilytics model was able to proactively identify VNSNY CHOICE Health Plan members at high risk of hospitalization," relates Hany Abdelaal, DO, Chief Medical Officer for the Visiting Nurse Service of New York. "This is allowing us to direct the most intensive interventions to the highest-risk group in a timely manner, in order to intervene prior to hospitalization. We are in a unique position to positively impact people earlier, leading to dramatic clinical and financial improvements."
"The Predilytics Care Directions Suite addresses the shortcomings of earlier-generation analytic efforts," added Chris Coloian, Predilytics President and CEO. "By predicting consumer behavior and intervention preference, we can more accurately identify and prioritize for intervention at-risk individuals, rather than groups or cohorts. We typically outperform existing models by 25-40% or more, while being less time- and resource-intensive. We believe that every health plan, provider and risk-bearing organization can benefit from these insights."
Tweet this: @Predilytics launches #CareDirectionsSuite: optimize #healthplans #caremanagement efforts, pinpoint the right people in time.
About Predilytics
Predilytics is an advanced analytics company, the first to commercially employ in healthcare the analytic techniques and processes that have demonstrated proven, long-term success in such demanding industry sectors as financial services and consumer acquisition and engagement.
Predilytics applies patented machine-learning analytic tools to transform healthcare "big data", and to point the way for healthcare organizations to optimize and precisely target care delivery, increase their revenue, control costs, and improve population health. Founded in 2011 and headquartered outside Boston in Burlington, MA, Predilytics is backed by investments led by Flybridge Capital Partners, Highland Capital Partners, Foundation Medical Partners, and Google Ventures.
© 2014. Predilytics, Inc. All rights reserved.
1 Medical Expenditure Panel Survey. "The concentration and persistence in the level of health expenditures over time: estimates for the U.S. population, 2008-2009" Published Jan.2012. Complete report available at: http://meps.ahrq.gov/mepsweb/data_files/publications/st354/stat354.pdf
2 Kashihara, D. and Carper, K. National Health Care Expenses in the U.S. Civilian Noninstitutionalized Population, 2009. MEPS Statistical Brief #355. January 2012. Agency for Healthcare Research and Quality, Rockville, MD.
SOURCE Predilytics
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