News and Events
THA Solutions Group and CredenceHealth announce strategic partnership
October 6, 2009 | CredenceHealth, Inc.
BRENTWOOD, TN – The Tennessee Hospital Association (THA) Solutions Group and CredenceHealth announce today the formation of a strategic partnership designed to continue to reduce costs and improve outcomes in hospitals across the state of Tennessee. As the premiere organization that promotes and represents the interests of all health careers, hospitals, and health systems in the state, THA Solutions Group has supported hospitals for over seventy years. In partnering with CredenceHealth, the THA Solutions Group is looking toward the future of healthcare improvement utilizing health information technology (HIT) in meaningful ways to impact the quality of care in hospitals of all sizes.
CredenceHealth’s affordable web-based solutions leverage existing HIT investments in hospitals and provide immediate value in terms of both quality and financial improvements by translating clinical data into clinical intelligence in real-time. The value and functionality that the CredenceHealth suite provides will enhance the long-term quality initiatives of the THA Solutions Group and the timely formation of this powerful partnership will significantly improve hospitals’ access to these tools.
According to Jim Goodloe, Senior Vice-President of the THA Solutions Group, “It is imperative, in today’s market, that hospitals be able to measure the quality of the care that they give and be able to act upon the information that is captured within various systems effectively. CredenceHealth solutions provide that capability in a way that can easily be integrated into the operational routine within hospitals, resulting in improved care and reduced costs.”
CredenceHealth’s CHlive application automates concurrent Core Measure compliance and identifies emerging complications via a unique Clinical Intelligence Engine. Meaningful, timely, and actionable information is provided while patients are still in the hospital, utilizing evidence-based medical research and best practices (e.g. CDC standards and National Surgical Quality Improvement Project methodology). This system operates remotely, by connecting and interfacing with the disparate components of hospital information systems within the hospital IT infrastructure. Clinical intelligence is then delivered to clinicians through a web-based interface.
CredenceHealth began working in 2007 to develop and implement this system and today marks a major milestone in the life of the company. CredenceHealth President & CEO, Justin Lanning, said of the partnership, “It’s always special when two organizations with aligned missions work together toward a common goal. In this case, Tennessee is yet again taking innovative steps to improve the quality of care and reduce costs. The formation of this strategic partnership will help to achieve those goals and to deliver tremendous capabilities to burdened healthcare providers statewide.”
ABOUT CREDENCEHEALTH, INC. – CredenceHealth automates concurrent Core Measure compliance and identifies emerging complications via its unique Clinical Intelligence Engine. Meaningful, timely, and actionable information is delivered through a real time clinical intelligence suite—while patients are still in the hospital—utilizing evidence-based medical research and best practices (e.g. CDC standards and National Surgical Quality Improvement Project methodology). The company’s mission is to improve the quality of healthcare, reduce costs, and maximize reimbursement.
ABOUT THE TENNESSEE HOSPITAL ASSOCIATION (THA) Solutions Group – THA Solutions Group addresses areas of critical interest or concern to hospitals. It endorses approximately 25 management and professional programs that are offered on a fee-for-service basis for the benefit of THA members. These programs include revenue enhancement, group purchasing, recruitment, capital equipment leasing, management services, data management and insurance.
CONTACT:
Steven R. Elliott
CredenceHealth, Inc.
O. 615-712-2207
F. 615-691-7039
E. steven.elliott@credencehealth.md
W. http://www.credencehealth.md/
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Survey: Secondary use of electronic health data will improve care, cut costs
Healthcare IT News
October 1, 2009 | Diana Manos, Senior Editor
NEW YORK – The secondary use of data collected in electronic medical records will be the key to greater quality and cost savings in the next five years, according to a new report (follow link to see the full report).
The report, released Thursday by PricewaterhouseCoopers (PWC), based on a survey of more than 700 individuals representing providers, payers and drug companies, found that three-quarters agree that the secondary use of health record information will be their organization's greatest asset.
The data that could be mined from a health system can improve patient care, predict public health trends and reduce healthcare costs, but PWC found that a lack of standards, privacy concerns and technology limitations are holding back progress.
Daniel Garrett, partner and leader of PWC's health industries technology practice, said the potential of secondary health information has yet to be realized.
"The implementation of electronic health records is an enormous investment for healthcare providers and for the industry, but the bigger challenge will be in trying to make use of the wealth of information within the U.S. health system that has been trapped in paper silos, just waiting to be unlocked and leveraged," Garrett said. "Healthcare organizations need to work together to overcome barriers and foster collaboration and innovation."
According to PWC, the healthcare industry won't see the full value of investments in electronic medical records and other health IT investments until it finds secondary uses for the information being gathered.
Ninety percent of executives surveyed by PWC said the industry needs better guidelines on how health information can be used and shared. Seventy-six percent said national stewardship over, or responsibility for, the use of the health data should be regulated.
In its report "Transforming Healthcare through Secondary Use of Health Data," PWC calls for a public-private collaboration and a role for government in creating incentives for the private sector to collect, share and use health data. The report also urges public-private partnerships to establish standards and redefine technical architecture to allow interoperability.
PWC found that the secondary use of health data is still in its infancy but is expected to grow exponentially as health IT implementation is fueled by federal stimulus funds.
The study comes as the federal government prepares to release some $20 billion in funding under the American Recovery and Reinvestment Act for providers to collect health data and use it meaningfully.
PWC research also found:
* Nine in 10 healthcare executives believe that the secondary use of health information will significantly improve the quality of patient care and offers the promise of even greater benefits in the future.
* Nearly two thirds (65 percent) of health organizations say they expect their secondary data use to increase significantly within the next two years.
* Among organizations already using some form of secondary data, 59 percent have seen quality improvements, 42 percent have achieved cost savings, 36 percent have seen patient/member satisfaction improve and 29 percent have increased revenue.
* Providers who are not using secondary data say the number one reason is lack of EHR implementation, not because they are opposed to the concept. Health plans are farthest behind in their secondary use of data despite their vast repository of comprehensive claims information from physicians, hospitals, pharmacies and dentists.
* Ninety percent of pharmaceutical companies have limited or no access to health information contained in electronic health records.
* Most health organizations that use secondary data do so for their own quality monitoring and reporting and for identifying areas that need quality improvement.