Jan 12 2010
Verisk Health, Inc. today announced that Med-Vision, LLC helped clients reduce healthcare costs by 10 to 12 percent with Verisk Health’s Explorer solution. Verisk Health is a global leader in identifying, analyzing, and predicting healthcare risk. Med-Vision is a leading medical consulting company.
“Verisk Health Empowers Med-Vision to Lower Its Client’s Healthcare Costs”
“Data is power in healthcare and the starting point for enabling meaningful change,” said Dan Ross, chief executive officer and founder of Med-Vision. “Verisk Health gave us the tools we needed to unlock the data and identify the cost drivers and trends to significantly reduce spending for our employer groups.”
Med-Vision implemented Explorer several years ago as a creative solution to the complex healthcare crisis facing its mid-to-large sized employer clients. The company’s goal was to shape new quality care approaches by drawing on data analytics to understand employer cost trends, identify drivers, and determine how best to lower healthcare expenditures. Explorer, a web-based data analytics solution, helped Med-Vision identify and execute strategies to successfully lower costs while improving clinical, financial, quality, and utilization metrics.
“Across the board, most employer groups lack visibility into what is truly driving healthcare outcomes and costs,” said Nathan Gunn, chief medical officer at Verisk Health. “Med-Vision’s success with our Explorer product is positive proof that clear insight into data goes a long way toward impacting the bottom line.”
Working with clients, including a cancer treatment center and a regional school district, Med-Vision analyzed existing data and developed strategic programs that addressed the specific trend, quality, and compliance issues of each population. Med-Vision’s programs improved clinical and financial metrics for many of its clients. In one instance, Med-Vision lowered healthcare costs by 10 to 12 percent over two years. The company’s efforts also helped educate members on chronic disease management and prevention, which encouraged healthier lifestyle behaviors. Other results from Med-Vision’s campaigns include:
- emergency room visits decreased by 11.9 percent
- per member per month pharmacy costs decreased by 19.3 percent
- per member per month cost decreased by 8.6 percent
- inpatient days declined significantly
- breast cancer screening compliance improved by 38 percent
- generic drug use increased by 4 percent
http://www.med-vision.com.
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