Will Reduce Medicare Costs in Maryland by at least $35 Million
Columbia, MD /PRNewswire/ - LifeSpan Network, the leading post-acute care provider association in Maryland, and Real Time Medical Systems, announce the formation of a skilled nursing facility (SNF) network that, through the use of Real Time Medical Systems' interventional analytics software, will cater to the needs of health systems, insurers, ACOs and other organizations to improve quality of care and reduce hospitalizations.
The network will cover the entire state and link all the skilled nursing centers, and their electronic health record systems, into a single care management platform. Health systems and insurers, for the first time ever, will be able to see and compare the outcome results from each SNF and sort the data by time, diagnoses, length of stay, acuity, etc. In addition, case managers will be able to see real-time data as to which patients are at highest risk of a hospital admission and allow collaborative and immediate intervention.
A reduction of SNF related hospitalizations by 50% would yield at least a $35 million annual Medicare cost reduction in Maryland. This would be a boon to the preservation of the Maryland Medicare Waiver.
The partnership intends to make this real-time interventional capability available to insurers that will then feature the participating facilities. This combines great care, improved outcomes, and enhanced consumer transparency.
"LifeSpan Network is committed to improving quality in Maryland's skilled nursing facilities. As Maryland continues to redesign its health care delivery system through the Total Cost of Care Model, this partnership is an example of an innovative approach focused on ensuring that residents receive the highest standard of care while at the same time reducing unnecessary costs within the health care system," said LifeSpan CEO Kevin Heffner.
"Real Time is thrilled to partner with the State's skilled nursing facilities to coordinate data and link directly to health systems and insurers. This new system of integration will provide unprecedented opportunities for health systems, skilled nursing facilities, and others to more effectively and efficiently work together," said Joan Neuscheler, CEO of Real Time Medical Systems.
SOURCE: Real Time Medical SystemsCopyright 2019 PR Newswire. All Rights Reserved