3M has launched a performance suite to help hospitals and health systems navigate the journey from volume- to value-based health care.
The suite, 3M Health System Performance Suite, offers analytic tools to manage the health of populations, measure provider performance, determine total cost of care and succeed under value-based payment.
The latest addition to 3M’s population health management toolkit provides the type of business intelligence that health care organizations need to participate in an Accountable Care Organization (ACO), state initiatives such as Delivery System Reform Incentive Payment (DSRIP) programs, or to understand market share dynamics and address issues such as patient outward migration or network ‘leakage’.
The web-based suite is built on 3M’s risk stratification methodologies, including the 3M APR DRG classification system and 3M Potentially Preventable Events (3M PPEs) software, which identifies hospital readmissions, complications, admissions, and other events that may be avoidable.
The first modules of the new system are now available. They are State Compare, which can help provider organizations identify profitable market share opportunities and capture out-migrating revenue by service; and Patient Compare, which offers a patient-level review of length of stay and mortality, costs and charges, and peer-to-peer performance using 3M benchmarks.
Four additional modules of the 3M Health System Performance Suite are scheduled to be released over the next several months, and will provide incremental risk adjustment and further insight into provider performance, quality, population cost of care and risk, and a risk scenario modeling tool.
3M, 3M PPEs, software, ACO, 3M Health System Performance Suite, US