LexisNexis Risk Solutions, a provider of data analytics technology, has launched LexisNexis Provider Performance Monitor, a clinical data analytics solution which it claims helps improve and optimize the efficiency of provider networks through the evaluation of performance using severity-adjusted scores.
By measuring provider performance through the Provider Performance Monitor, payers have a solution to deliver better outcomes, improve the patient experience and reduce costs, as well as an asset for creating provider networks that are effective and achieve optimal efficiencies.
“LexisNexis is dedicated to providing the healthcare industry with the clinical data analytics solutions needed to implement the Affordable Care Act and excel in Triple Aim, and the Provider Performance Monitor is a key piece of our continuum of solutions,” said Lee Rivas, chief executive officer, public sector and healthcare, LexisNexis Risk Solutions.
“Payment reform has been the driver in the industry’s shift from ‘volume-based’ to ‘value-based’ care payment models. The LexisNexis Provider Performance Monitor enables payers to fairly compare providers against industry and local benchmarks, allowing them to create provider networks comprised of physicians with the best healthcare outcomes, at reduced costs and fostering improved population health.”
LexisNexis Provider Performance Monitor leverages service and demographic data to generate severity-adjusted episode-based provider performance analytics and industry standard quality measure compliance rates in a single application.
Both sets of analytics provide input into quality improvement programs and cost and utilization reduction efforts. Each provider’s severity-adjusted performance can be compared to a variety of benchmarks that are appropriate to the healthcare services delivered to the provider’s patients.
The Provider Performance Monitor delivers these metrics through an intuitive web-based application and provides the capability to integrate these three key metrics into existing payer legacy applications.
In addition, an Accountable Care Organization, a health plan or an Integrated Delivery Network’s provider network team can use the data analytics to tailor messaging to an individual provider. The messaging is based on a holistic, fair and objective evaluation of efficiency performance metrics and quality measure compliance rates.
LexisNexis Risk Solutions, Lee Rivas, US