Milliman has announced the launch of a next generation Hospital Performance Index software, a benchmarking tool for payors and providers that uses statistical methods to identify opportunities for increased efficiency in patient populations. The new product significantly enhances the granularity of hospital benchmarking available to payors and providers and fits the needs of accountable care organizations (ACOs) by identifying instances where care management may yield improved quality and increased efficiency.
“The move toward accountable care spurred by the Affordable Care Act requires payors and providers to constantly benchmark their populations in search of opportunities for increased efficiency,” said John Cookson, Milliman principal. “The enhanced Hospital Performance Index, which builds on technology with a 20-year track record, is optimized for today’s market and allows national, regional, and local benchmarking. This benchmarking can be performed using multiple variables, including diagnosis-related groups (DRGs), major disease category, readmissions, and avoidable inpatient days.”
The enhanced Hospital Performance Index includes an updated user interface that brings these benchmarks to payors and providers in an intuitive fashion. The benchmarks can be applied against Medicare, Medicaid, and commercial populations and allow for comparison with every hospital in the country. The updated tool can help payors and providers prioritize their care management efforts, highlight instances where better management could result in cost reduction, and aid in contract negotiations and in the creation of accountable care partnerships. For more information, click here.