A 2007 report from the Medicare Payment Advisory Commission (MedPAC) estimated that 18% of Medicare hospitalizations result in a readmission within 30 days of discharge. The financial impact of these readmissions accounted for $15 billion in spending. According to MedPAC’s estimates approximately 80% of studied readmissions were believed to be preventable, translating to roughly $12 billion in unnecessary cost. Estimated costs of preventable readmissionsfor patients with private insurance are believed to be at least as high as those paid by Medicare.
B.I. Voyage has teamed up with Predixion Software to provide our provider and plan clients with a readmission solution to identify and reduce the number of avoidable readmissions experienced by hospitals. Our innovative approach to readmission management takes a prospective view. By examining the historic readmission patterns specific to each medical facility our readmission solution is able to create a scientifically-based model that can be used to identify currently admitted patients that are at elevated risk of readmission with great precision.
Health Care Providers
Whether your organization is taking steps to adopt an accountable care model or simply looking to satisfy CMS requirements to avoid reimbursement penalties, solutions to identify and reduce the occurrences of Potentially Preventable Events (PPEs) and better manage risk are critical to your success.
Health Care PlansWhile member populations have been relatively static in years past, new government regulations will soon take effect that will dramatically increase the number of members participating in health plans. Solutions designed to identify at risk patient populations and better care for members with chronic conditions will be vital in managing costs and promoting wellness.
