We strive each day to help healthcare organizations succeed with value-based care and population health management (PHM), but let's take our foot off the gas for just a moment to reflect on the past year, with an eye on what's coming in 2019.
HealthEC takes great pride in the innovative PHM technologies we’ve developed over the years, but our core focus remains the continuing success of our clients. This commitment to service is best exemplified by our recognition this month by KLAS Research. HealthEC featured prominently in this year's reports: Population Health Management 2018, Part 1 - Partnering and Guidance the X Factors to PHM Success and Part 2 - Which Vendors Contribute Most to Patient Financial and Outcomes Success?
Among the KLAS report highlights, HealthEC was named a top performer for partnerships and strategic guidance, based on our ability to mitigate risk and help our customers achieve positive financial and patient outcomes. We were also cited for going "above and beyond to help customers achieve positive financial outcomes" and being "highly responsive and collaborative when responding to customer concerns about data issues that impact the reporting for pay-for-performance agreements.”
HealthEC's CEO and President, Arthur Kapoor, reflected on the achievement. "Our clients, which represent a wide range of provider, payer and government entities, are succeeding with value-based care and we look forward to developing these partnerships throughout 2019. We expect to see accelerated growth in the adoption of pop health and value-based care initiatives over the next several years, and are excited to drive value for customers as the industry transitions away from fee-for-service models."
HealthEC was also recognized for overall contributions to the healthcare industry, with Chief Information Officer Sita Kapoor being honored with Health Data Management’s 2018 Most Powerful Women in Healthcare IT Award, and cited as an industry thought leader.
“Data aggregation and analytics technology has absolutely transformed the healthcare IT landscape over the last five years, and as the industry implements an increasing amount of Artificial Intelligence, machine learning and advanced algorithms, we expect to see incredible changes across healthcare," said Kapoor. "In terms of our own pipeline, we are developing a number of technologies that leverage these solutions and look forward to sharing them with the market later this year.”
With our 2018 citations in mind, we continued to play a significant part in the industry’s transition to value-based care, particularly for our accountable care organization (ACO) clients. In September, we announced that we helped ACO clients achieve $21.4 million in Medicare Shared Savings Program savings, and receive reimbursements totaling more than $9.5 million for the 2017 performance year. Based on continuing performance improvements and the addition of new ACO clients, we expect to eclipse these figures in the next reporting period.
HealthEC welcomed new customers in 2018, including The Villages Health, serving The Villages Community in Central Florida, the largest 55-and-over community in the U.S., Beaumont Health, Michigan’s largest healthcare system, and Beaumont ACO, a partnership between Beaumont Health, Southeast Michigan physicians and other community partners. As we enter 2019, we look forward to making a number of new customer announcements.
We also hit the road quite a bit in 2018, attending numerous conferences, workshops and seminars to demonstrate the power of our PHM platform, provide expert insights into value-based contracting, and speak about how our clients across the healthcare continuum have successfully implemented our solutions. We also launched HealthEC Opioid Analytics at the 2018 Medicaid Enterprise Systems Conference in Portland, Oregon, leveraging our industry-leading data aggregation and predictive analytics capabilities to confront the opioid crisis head on.
Part of HealthEC’s expansion strategy this year will be raising our visibility at HIMSS 2019, Feb. 11-15 in Orlando, Florida, and sharing how we've grown from a high-potential startup into a PHM leader. In addition to our principal sponsorship of the new Personalized Health Experience, Executive Vice President Sanjay Seth will deliver a presentation on how organizations across the healthcare landscape deliver on the promise of value-based care by employing personalized, scalable care coordination strategies that engage providers and patients alike.
“One of the most important things we learned in 2018 is that organizations truly understand the benefits of PHM solutions and recognize that value-based care is the future of healthcare,” said Seth. “Our expectation for HIMSS is that once decision makers see HealthEC's platform in action, they’ll want to start a conversation with us.”
If you’re attending the HIMSS conference, request a demo or stop by and say hello. You'll find us in the new Personalized Health Pavilion. We'd love to meet you and talk about your current goals and how HealthEC can help you achieve them.
Happy New Year!