Innovaccer Launches World’s First Tool for Providers to Assess Savings Under Value-Based Reimbursement Models
BERKELEY, Calif., June 15, 2017 /PRNewswire/ — Innovaccer Inc., one of the leading Silicon Valley-based healthcare analytics companies, unveils a free tool, ‘Healthcare Model Evaluator‘ to assist providers in quantifying the financial benefits, calculating their risk-bearing capabilities, and maximizing their outcomes under various value-based reimbursement models.
The Healthcare Model Evaluator is an extensive tool available online that assimilates dependent variables and does a detailed analysis of various value-based reimbursement models like:
- Merit-based Incentive Payment System (MIPS),
- Chronic Care Management (CCM),
- Comprehensive Primary Care Plus (CPC+) and
- Medicare Shared Savings Program (MSSP).
The tool incorporates specific variables for every model and provides a breakdown of how each component, ranging from the number of beneficiaries to benchmarks chosen, will affect reimbursements.
Furthermore, the tool also offers assistance in understanding the prerequisites for stepping into two-sided risk models, and how to leverage technology to optimize efficiency and develop a data-driven roadmap to exploring revenue opportunities and pinpointing gaps.
Many providers are as yet not aware of the clinical and financial upsides possible within the models in practice. To facilitate an understanding of potential revenue, rewards, and penalties, Innovaccer’s evaluator ingests variables for the above four prominent models i.e. MIPS, CCM, CPC+, and MSSP Track 1.
Estimate Revenue: The calculator ingests simple variables and projects potential revenue generated for the current year as well as subsequent years- 2017, 2018, 2019; with a contrast against revenue under the traditional FFS system.
Strategic Insights on Risk Models: The tool offers strategic insights for providers preparing to advance into two-sided risk models, giving a breakdown of gains or losses they can expect for each of these models when stepping into two-sided risk sharing arrangement for the current year and two subsequent years.
Success strategies for Providers:
Providers can ease themselves of the administrative, operational and financial burdens from implementing and running value-based care with Innovaccer’s powerful and holistic platform — Datashop. Providers can reap the financial benefits through clear, data-driven insights and obtain increased flexibility to deliver personalized, effective care with the support of a motivated care team.
“In the era of value-based care and a quality-focused healthcare landscape, there is a growing demand for definitive, concrete data that can drive strategic operations that help healthcare organizations bring about a health care reform. After the success of our MIPS Calculator, we realized the need for more understanding of models available to deliver quality, enhance performance and reduce costs,” says Sandeep Gupta, Co-Founder and COO at Innovaccer.
Innovaccer will be exhibiting its Big Data analytics platform, Datashop, at CAPG 2017 in Booth #711.
Access the Healthcare Model Evaluator here: http://vbr.innovaccer.com
Innovaccer Inc is a Silicon Valley-headquartered, Healthcare analytics company easing care teams’ transition to Value-based Reimbursements. Innovaccer’s aim is to simplify complex data from all points of care, streamline the information and help organizations make powerful decisions and realize strategic value-based reimbursement goals based on the key insights and predictions from their data. Its proprietary product Datashop enables provider organizations to use data as a source of innovation and has been deployed across 15 countries at academic institutions, governmental organizations, and several corporate enterprises such as Mercy ACO, El Paso HIE, Sonic Healthcare, Harvard, Stanford, MIT, and Wolters Kluwer.
For more information, please visit www.innovaccer.com or follow us on Twitter @innovaccer.
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