Tag Archives: MedInsight

Milliman acquires Torch Insight, expanding industry’s leading portfolio of SaaS health market intelligence solutions

Milliman today announced the acquisition of Torch Insight® from Leavitt Partners, LLC. This acquisition will combine Torch Insight’s powerful market-centered data and analytics with MedInsight, Milliman’s flagship healthcare analytics ecosystem. 

Torch Insight brings Milliman decades of healthcare policy expertise and healthcare analytic experience backed by Leavitt Partners—recognized experts in the health sector. The team has integrated and linked thousands of data elements from dozens of public and proprietary data sources. The platform is the culmination of thousands of hours spent cleaning and validating data and splicing together siloed data sets to enable powerful market-centered analysis and data visualization, and integration with business intelligence platforms.

MedInsight founder and Milliman Principal Kent Sacia believes the acquisition of Torch Insight by Milliman represents a significant advancement in healthcare analytics. “Torch Insight and MedInsight are incredibly complementary to each other. MedInsight enables clients to apply robust, value-added analytic techniques to their own data. Torch Insight expands the scope of these analytics by layering in comprehensive data about the surrounding environment and delivery system. Together, MedInsight and Torch Insight provide a 360-degree view of client results in the context of their local healthcare market dynamics, competition, and partner relationships.”

Leavitt Partners Founder and Chairman, and former Secretary of the U.S. Department of Health and Human Services, Mike Leavitt, remarked, “Combining Torch Insight’s comprehensive data on the unique attributes of ACOs, bundled payments, and healthcare stakeholder relationships with MedInsight’s analytic suite, creates the most thorough market intelligence asset available.”

For more information, click here.

Milliman chat will focus on healthcare waste

What: #HealthWaste

Where: Twitter

When: Thursday, August 2, at 10 a.m. PST/1 p.m. EST

Topic: Identifying wasteful spending in healthcare

Moderator: @MillimanHealth

About this chat
In recent years, few issues have been spoken about more than the need to curb unnecessary healthcare spending across the United States. As discussions continue at various parts of the government, Milliman invites you to join our #healthwaste Twitter chat. The chat features Milliman MedInsight consultants Rich Moyer and Marcos Dachary, who will discuss ways in which the healthcare industry can identify wasteful spending and what can be done to address the underlying issues. Rich and Marcos will be joined by two of the premier experts in this area, Dr. Mark Fendrick of the Center for Value-Based Insurance Design (V-BID), and Dr. Michael Chernew of Harvard Medical School.

Rules of engagement
• To participate in the chat, follow the hashtag #healthwaste.
• Answer Q1, Q2, Q3… with A1, A2, A3….
• Remember to include the hashtag #healthwaste in all your tweets.
• If you are new to Twitter chats, considering using TweetChat.com.




Critical Point podcast: “Healthcare waste and how to find it”

Milliman’s new podcast, Critical Point, presents unique perspectives from the firm’s professionals. The podcast’s debut episode, “Healthcare waste and how to find it,” features Jackie Sehr, Marcos Dachary, and Dr. David Mirkin from Milliman MedInsight®, a data warehousing and healthcare analytics platform. In this episode, they discuss healthcare waste and approaches to minimize waste and reduce unnecessary costs across the American healthcare system.

To listen to this episode of Critical Point, click here.




Benchmarking analytics for provider reimbursements

Managing provider reimbursement levels is an important function for health plans. Provider reimbursement analytics can offer health plans the foundation they need to effectively manage reimbursements.

In their article “Provider reimbursement analytics,” Milliman consultants David Lewis and Charlie Mills highlight the advantages and disadvantages of the two primary analytical approaches for evaluating provider reimbursement levels. The authors also discuss the pros and cons of the three main baseline fee schedules used in provider contract benchmarking, one of which includes Milliman GlobalRVUsTM.




Milliman MedInsight chosen by two state-based organizations and a leading community coalition to identify unnecessary costs and procedures in healthcare delivery

Milliman announced today that its healthcare tool, the MedInsight® Health Waste Calculator, has been chosen by two state All Payer Claims Databases (APCDs) and a leading Regional Health Improvement Collaborative to aid in their identification of unnecessary costs and procedures in healthcare delivery.

The Virginia Center for Health Innovation (VCHI), Oregon Health and Hospitals, and the Washington Health Alliance (WHA) have all licensed the MedInsight Health Waste Calculator to support their statewide initiatives to identify and eliminate waste in their healthcare systems.

“In Virginia, an important component of our state health innovation plan is to reduce utilization of low-value medical tests and procedures so that we can free up needed resources to advance high-value care. Our medical and business communities want to do what they can to better ensure that patients and providers are choosing wisely when it comes to healthcare,” said Beth Bortz, President and CEO of VCHI.

The Health Waste Calculator is an analytic tool that is powered by Milliman’s MedInsight software and encapsulates Value-Based Insurance Design (VBID) Health’s market knowledge on wasteful healthcare spending. The tool identifies and quantifies the use of unnecessary or potentially harmful clinical services, including those defined by national initiatives such as the U.S. Preventive Services Task Force and Choosing Wisely. Using the Health Waste Calculator, each state will be able to report on countless aspects of healthcare but the typical starting points are reports by county, region, or even health system, using these metrics:

• Percentage of individuals exposed to at least one potentially wasteful service.
• Percentage of potentially wasteful services in each market, what is called the Waste and Quality indices.
• Cost metrics of the waste impact as a baseline for them to work from as they implement strategies to realize greater efficiencies.

Mark Fendrick, Director of VBID, stated, “The achievement of Triple Aim in healthcare is to improve quality, enhance patient experience, and lower costs, which requires us to spend more on evidence-based services and less on those that do not produce health. The MedInsight Health Waste Calculator can identify, and potentially reduce, the use of low-value services to free up needed resources to reduce important gaps in care.”

MedInsight is used by over 300 health plans, employers, at-risk providers/accountable care organizations (ACOs), state governments, community health coalitions, and third-party administrators.

For more information about Milliman’s MedInsight products, click here.




Milliman MedInsight’s analytic platform named a leader in IDC MarketScape report

Milliman today announced that its popular healthcare analytic platform, MedInsight, has been named a leader in the IDC MarketScape study, entitled “U.S. Payer Data Analytics 2015 Vendor Assessment, doc #HI255269, April 2015.” The company is one of eight vendors evaluated in the report.

MedInsight is positioned as a leader of this IDC MarketScape report—which provides an evaluation of the leading payer data analytic platforms—because of high satisfaction ratings from clients in terms of the high degree of flexibility, advanced analytics, and analytic tools supporting multiple types of users.

The report notes that Milliman’s strengths include the MedInsight Data Confidence Model—a methodology applied as a data warehouse is being created, and then leveraged on an ongoing basis for client data management—as well as the MedInsight benchmarking function that enables clients to benchmark organizational performance against Milliman’s health research database.

MarketScape image_HI255269_blog op

 

“The MedInsight mission is to provide analytic leadership and decision confidence to our clients. The fast-moving and uncertain nature of the healthcare industry demands a nimble and growing analytic platform,” said Kent Sacia, Milliman principal. “The IDC MarketScape report affirms the MedInsight team’s hard work toward that mission as we continuously commit to adding value to our clients.”

The IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of information and communications technology (ICT) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. The capabilities score measures vendor product, go-to-market, and business execution in the short term. The strategy score measures alignment of vendor strategies with customer requirements in a timeframe of three to five years. Vendor market share is represented by the size of the circles. Vendor year-over-year growth rate relative to the given market is indicated by a plus, neutral, or minus next to the vendor name.

For more information about Milliman’s MedInsight products, click here.