Finance, Analytics Vendors Pitch New Products at HFMA
Traffic was strong in the exhibit hall during the Healthcare Financial Management Associations recent Annual National Institute in Las Vegas and included several vendor announcements.
Traffic was strong in the exhibit hall during the Healthcare Financial Management Associations recent Annual National Institute in Las Vegas. Here is a sample of vendor announcements made at the show:
* Revenue cycle management and claim clearinghouse vendor Emdeon will acquire Capario, a large and veteran player in the clearinghouse arena, for $115 million. The companies expect the deal to close during the third quarter. Emdeon operates the nations largest health care clearinghouse, reaching 700,000 physicians, 81,000 dentists, 60,000 pharmacies, 5,000 hospitals, 600 vendors, 450 laboratories and 1,200 government and commercial payers. Now, Santa Ana, Calif.-based Capario will bring 88,000 directly-connected providers and another 240,000 providers that link to Capario through other vendors.
* Analytics vendor Health Care Dataworks has expanded its provider-focused product line and bundled its services in a new software packaged called the Knowledge Edge Value-based Reimbursement Suite. The suite includes a new readmissions dashboard to help organizations comply with Medicare guidelines by giving work lists to clinicians daily on their high-risk patients, as well as a new length of stay dashboard to identify which patients are at risk of exceeding their expected stay. Existing value-based purchasing analytics software used to identify cost savings and track all quality of care measures has been updated to support new Medicare methodologies. Existing products to analyze days in coding, days in payment (are insurers paying on time?), and days in observation status also are part of the new suite.
* Business software vendor Infor, which also sells the Cloverleaf interface engine, is beta testing a new initiative to help providers have an enterprise view into their operational costs. Called True Cost, the program combines clinical and operational data--such as supply chain, finance, and payroll--in a central location for real-time analysis of labor and supply side cost management, among other metrics. The intent is to aid provider CFOs moving to value-based care in better understanding end-to-end costs that include capturing costs outside the hospital.
* 3M Health Information Systems has combined existing consulting, analytics and quality measures services in a new program targeting hospitals participating in value-based reimbursement arrangements. Consultants will use public and 3M-proprietary quality measures to evaluate hospital outcomes data and then analyze the sources of quality problems. The program, called 3M Quality Services, also includes workflow to optimize processes to analyze care while the care is still in progress to assess not just gaps but also potentially avoidable care. Physician education and engagement services also are part the package.
* Revenue cycle management and claim clearinghouse vendor Emdeon will acquire Capario, a large and veteran player in the clearinghouse arena, for $115 million. The companies expect the deal to close during the third quarter. Emdeon operates the nations largest health care clearinghouse, reaching 700,000 physicians, 81,000 dentists, 60,000 pharmacies, 5,000 hospitals, 600 vendors, 450 laboratories and 1,200 government and commercial payers. Now, Santa Ana, Calif.-based Capario will bring 88,000 directly-connected providers and another 240,000 providers that link to Capario through other vendors.
* Analytics vendor Health Care Dataworks has expanded its provider-focused product line and bundled its services in a new software packaged called the Knowledge Edge Value-based Reimbursement Suite. The suite includes a new readmissions dashboard to help organizations comply with Medicare guidelines by giving work lists to clinicians daily on their high-risk patients, as well as a new length of stay dashboard to identify which patients are at risk of exceeding their expected stay. Existing value-based purchasing analytics software used to identify cost savings and track all quality of care measures has been updated to support new Medicare methodologies. Existing products to analyze days in coding, days in payment (are insurers paying on time?), and days in observation status also are part of the new suite.
* Business software vendor Infor, which also sells the Cloverleaf interface engine, is beta testing a new initiative to help providers have an enterprise view into their operational costs. Called True Cost, the program combines clinical and operational data--such as supply chain, finance, and payroll--in a central location for real-time analysis of labor and supply side cost management, among other metrics. The intent is to aid provider CFOs moving to value-based care in better understanding end-to-end costs that include capturing costs outside the hospital.
* 3M Health Information Systems has combined existing consulting, analytics and quality measures services in a new program targeting hospitals participating in value-based reimbursement arrangements. Consultants will use public and 3M-proprietary quality measures to evaluate hospital outcomes data and then analyze the sources of quality problems. The program, called 3M Quality Services, also includes workflow to optimize processes to analyze care while the care is still in progress to assess not just gaps but also potentially avoidable care. Physician education and engagement services also are part the package.