Real health systems. Real data. Real opportunities.
We analyzed Medicare data from hundreds of health systems using the 3M™ Performance Matrix Platform. From just 10 health systems, we found over $1B in cost-savings opportunities.
Are operational inefficiencies draining your health system’s resources? And what impact does this have on the quality of care you deliver?
These are the kinds of questions that brought 3M Health Information Systems and Verily Life Sciences together. 3M has decades of experience in health data, and Verily has deep understanding of analytics engines. It’s a perfect match for tackling these important and costly questions.
We investigated health system performance against several key quality benchmarks, identified the preventable issues, and finally created a prospective savings opportunity analysis for every hospital in the U.S. healthcare system. The tool we developed for this work is the 3M™ Performance Matrix Platform—a performance management solution that can analyze health data from hundreds of health systems.
What approach did we take?
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All data was risk-adjusted using 3M’s proprietary methodologies to assign each patient to a clinically meaningful risk category. Risk-adjusting the data provided a standardized view of the patient population, making it possible to accurately compare performance against risk-adjusted national benchmarks. Underperformance is illustrated by its financial impact on the organization.
The methodologies used include:
Length of stay (LOS) is an indicator of efficiency and provides guidance for LOS reduction.
Length of stay (LOS) is an indicator of efficiency and provides guidance for LOS reduction.
Hospital ICU days indicate a hospital’s propensity to admit patients to an ICU, as well as quality of care and cost variation.
Hospital ICU days indicate a hospital’s propensity to admit patients to an ICU, as well as quality of care and cost variation.
Potentially preventable complications (PPCs) are harmful events or negative outcomes that develop after a hospital admission and may result from processes of care and treatment rather than from natural progression of the underlying illness.
Potentially preventable complications (PPCs) are harmful events or negative outcomes that develop after a hospital admission and may result from processes of care and treatment rather than from natural progression of the underlying illness.
Potentially preventable readmissions (PPRs) are acute care hospital readmissions that are potentially preventable based on clinically precise criteria.
Potentially preventable readmissions (PPRs) are acute care hospital readmissions that are potentially preventable based on clinically precise criteria.
Curious about your organization’s savings opportunity?
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