The performance measurement system will equip healthcare organizations with a robust tool to compare healthcare providers and make better decisions.
FREMONT, CA: In the healthcare sector, the performance of providers has been measured by online feedback from patients and various multi-factor frameworks. Several healthcare data and analytics vendors have developed independent provider rating systems leveraging in-house claims data and consolidating multiple provider evaluation metrics into a score. However, these approaches lack transparency and sophistication, which has resulted in a lack of confidence in these methods.
CareJourney is set to change this with the launch of CareJourney Index, a breakthrough platform designed to enable healthcare organizations including payers, hospitals, health systems, and ACOs measure and score several providers such as primary care physicians (PCPs) and specialists. The solution offered by the healthcare analytics company enables its customers to seamlessly benchmark providers across specialty and geography in a matter of minutes, eliminating months of complicated work and excessive cost involved in the conventional statistical analysis methods.
The healthcare company delivers clinically relevant analytics for value-based networks. Headquartered in Arlington, VA, the analytics company bolsters the capabilities of payer, provider, and life science organizations across the US, helping them reach their goals by drawing relevant insights from the vast troves of claims data. The CareJourney Platform equips clients with interactive dashboards of actionable insights around the network design and management, care integrity, low-value care, and provider, practice, and facility management.
The CareJourney Index enables organizations to overcome the multiple challenges of measuring provider performance. The unbiased, comprehensive, and relevant datasets leveraged by the platform allows for it to make fair comparisons between providers. It provides better transparency than most rating systems, the proprietary approaches of which offers no basis for trust in the comparisons. The comprehensive, explainable, reliable, and standards-based provider performance scores provided by the CareJourney eliminate inaccuracy in insights and helps avert bad business decisions.
The CareJourney Index was built upon a robust foundation of offering clinically-relevant insights across patient, providers, facilities, networks utilizing a comprehensive approach which accommodates both cost and outcome metrics drawn from patient episodes rather than individual treatments and procedures. It has facilitated a vital benchmark for over 950,000 providers, positioning them to address the majority of the variation in cost and quality in healthcare.
By collaborating with the customers, the healthcare analytics company has designed an open and transparent measurement system which synthesizes publicly available performance metrics calculable on claims data to overcome the obstacles for all organizations seeking to succeed in their goal of value-based care. It enables payers to develop a high performing clinical network, and hospitals to improve their high priority clinical outcomes. Healthcare consumers can now make informed choices when choosing providers for their upcoming projects.
Payers can get an enhanced view of provider behavior based on robust datasets, making it possible to understand the practicing patterns. They will be able to make accurate predictions regarding the effects of a decision of key performance indicators. The CareJourney Index will empower health systems to manage and maintain cost and outcome standards by acquiring high-scoring providers and incenting behavior change in low-scoring providers. Also, physicians will not only get a full picture of their patients but also can audit and compare their performance with their peers.