Based on its analysis of the Healthcare IT Value-based Care Management Industry, Frost & Sullivan recognizes Caradigm with the 2017 North America Product Leadership Award for its comprehensive portfolio of healthcare IT solutions that promote data interoperability and evidence-based population health management. Population Health Management (PHM) solutions aggregate data for a specific group of people, often at-risk individuals, across various IT resources into a single record, allowing healthcare providers to analyze that data to improve patient outcomes and reduce medical costs through provisioning of value-based care (VBC). Caradigm, a GE Healthcare company, is a healthcare analytics and population health company headquartered in Bellevue, Washington.
Historically, the US healthcare system has largely focused on treating patients with immediate needs. In most cases, the market has failed to manage at-risk patients successfully, driving the need for a broader, more coordinated, and patient-specific healthcare ecosystem that can improve prediction and management of population health, especially chronic patient groups. In addition, as healthcare payment models shift away from fee-for-service (FFS)/volume models to outcomes-based systems that advocate accountable care, the need to improve how patients are tracked and coordinated across various care settings is emerging as one of the critical needs in an era of value-based, accountable care.
“Our independent analysis of value-based care management shows that around half of all US-based providers are interested in value-based care initiatives, but don’t effectively coordinate care between in-patient, out-patient, and long-term care settings,” said Koustav Chatterjee, Industry Analyst with Frost & Sullivan’s Digital Health Practice. “Providers also struggle to benchmark patient risk profiles in real time, and fail to develop customized health plans that complement each patient’s care expectation.”
Caradigm offers a robust VBC management solution portfolio designed to help healthcare providers identify and stratify patient populations eligible for value-based care. Provider-specific care management workflow is supported by a range of next-generation healthcare IT solutions that successfully capture and assess multiple factors, including clinical, financial, behavioral, and social, in real time to assign an evidence-based risk score to each patient undergoing treatment. The company takes a multi-disciplinary approach to product development, offering value-added solutions, such as:
• Caradigm Care Management enables organizations to create and employ evidence-based assessments that can auto-generate care plans and recommend mitigations, and helps care managers plan their day and prioritize tasks;
• Caradigm Knowledge Hub is a patient-knowledge repository that can be integrated within providers’ incumbent EHR workflows for patient-context management at the point-of service;
• Caradigm Quality Improvement is the automated assessment of gaps in care and provider performance, benchmarked against targeted VBC metrics, in reference to accountable care organizations qualification, physician quality reporting system, MIPS scores, and the National Quality Forum ranking for different clients;
• Caradigm Patient Outreach is theautomated attribution of patients to customized outreach programs across the care continuum, including the delivery of multimedia-enabled healthcare content to promote self-care and encourage medication adherence;
• Caradigm Utilization and Financial Analytics is the real-time benchmarking of patient-specific healthcare utilization and related cost contributions at an enterprise level.
“Caradigm’s solutions are part of an integrated software suite that allows for seamless interoperability with its care management platform,” said Chatterjee. “The utility of its solutions allows providers to generate actionable intervention strategies at the point-of-service in real time, based on the accurate assessment of each patient’s unique clinical requirements and financial risk.”
Frost & Sullivan, as a growth partner of leading healthcare stakeholders worldwide, is confident that Caradigm is poised to remain a leading care management vendor for the North American healthcare market through its engagement with integrated delivery networks, community hospitals, and large physician groups that need to comply with challenging VBC criteria. For these reasons, Caradigm has earned Frost & Sullivan’s 2017 North America Product Leadership Award.
Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid market acceptance. The award recognizes the quality of the solution and the customer value enhancements it enables.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
Caradigm (caradigm.com) is a GE Healthcare Company offering intelligent healthcare analytics and population health management solutions. Caradigm is dedicated to improving patient care, advancing the health of populations and reducing healthcare costs. Its enterprise software portfolio encompasses all capabilities critical to delivering effective population health management, including data control; healthcare analytics; and care coordination and engagement. Caradigm’s customers include large integrated delivery networks, accountable care organizations, clinically integrated networks, academic medical centers, and community hospital networks. Based in Bellevue, WA, Caradigm received the Frost & Sullivan 2017 North American Health IT Value-Based Care Management Product Leadership Award.
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