Warren Brennan, FounderWhile the U.S. health care industry is increasingly turning towards Big Data to increase productivity, reduce cost and allocate resources efficiently, a problem still remains, as it is estimated that over 84 percent of CIO’s and C-level health care executives believe that their organizations cannot accommodate rapid change in terms of applying and upgrading technology. New Health Analytics—a Richmond, VA based company helps hospitals, clinics and research institutes build a well-organized and detailed health care information system by combining data warehouse with analytical workstation that could be implemented within weeks.
Where the adoption of electronic medical records has extensively increased, hospitals all around the world try to deal with these massive chunks of data by initiating an organized approach to data analytics. New Health Analytics provides an approach that allows hospitals and other research bodies to deploy highly effective analytical workstations. Its solutions are being implemented and used by hospitals and hospital networks to access, identify and demonstrate improved quality and outcomes.
New Health Analytics also provides a set of solutions that can improve the performance efficiency and authenticity of hospitals and their networks. While its products are highly appreciated in the market for delivering substantial results, the CiManager helps hospitals and hospital networks assess, identify and demonstrate improved quality and outcomes, monitor measures of performance and patient safety and uncover key areas for financial and operational efficiencies. PCAPlus provides hospitals and hospital networks with healthcare planning, strategic management, market research for benchmarking current operations, and forecasting and improving productivity and profitability by detailed service lines.
The company’s SOIX for ambulatory surgery centers benchmarks, procedure by procedure, clinical outcomes and patient satisfaction for accreditation, risk management, and improved patient outcomes.
Lou Rossiter, FounderMost of the solutions that New Health Analytics offers are customized according to client requirements and many clients have gained overall productivity and had their efficiencies increasingly improved. It has marketing and development partnerships with Wolters Kluwer, Philips, Quture and eHealth Initiative.
“We provide a new scalable platform for a new model of health analytics - hospitals and their networks can quickly and easily monitor trends, identify opportunities for improvement, obtain analysis at the patient level and also quantify financial performance of the organization,” says Louis F. Rossiter, Co- Founder, New Health Analytics.
New Health Analytics’ easy-to-use web-based report analysis gives hospital executives a detailed view of the impact of ICD-10 (International Classification of Diseases) on annual revenue stream. Using robust statewide payer-claims data, the analysis provides an executive team with critical modeling data by reviewing historical claims data for hospitals, comparing reimbursement rates and providing an impact analysis of ICD-9 to ICD-10 coding conversions.
With customers in over 32 states, New Health Analytics is fostering a new trend in Big Data analytics for the vast health sector. With the implementation of its solutions, hospitals and their networks and many research bodies can witness a drastic change with operational benefits in just two quarters. The company’s solution also helps in conducting contract negotiations and supports a pay-for-performance system to enhance competency in the eco-system.
The detailed market knowledge in the health care analytics sector and the willingness to customize solutions for customers puts New Health Analytics ahead of the competition.