Futrix Health Business Solutions
Futrix Health has a revolutionary prominence in self-service business intelligence. Futrix Health can continuously monitor and measure all facets of a health care organization’s business components from operational analytics, to utilization and trend tracking, to measuring the efficacy of medical management and wellness programs. The comprehensive enterprise analytics can create a single version of the truth by linking data repositories and creating the ability to measure and monitor indicators across cross-functional units. Some of the core business applications of Futrix Health are listed below with their propensity to create immediate ROI. Futrix Health is able to provide quick information enabling decision support to reduce medial trend thereby improve market share.
Immediate ROI
- Prominently, Futrix Health can revolutionize the way the informatics team completes analytics. With immediacy, the analytics team can perform less programming and apply business solutions to the information which is surfaced quickly in Futrix Health. Futrix Health with its Push-Pull Analytics is able to push custom alerts allowing any enterprise skill set to act proactively and drill to the next level of answers and reduce administrative costs.
- The Medicare Advantage Stars Program Metrics can be monitored in a dashboard to proactively identify operational gaps and create efficiencies to optimize CMS reimbursements. Proactive operational changes facilitated by information surfaced by Futrix Health Dashboards can increase Medicare Advantage reimbursements by $16 PMPM simply through increasing plan performance metrics by several Star Points.
- Futrix Health is used for self-service internal and external employer reporting and consultation using BHI as well as plan data thereby reducing administrative costs and increasing customer satisfaction.
- Futrix Health Reporting features includes a fully secure web environment which allows the above information to be shared securely with plan sponsors, providers, producers, consultants, other Blue Plans as well as contracted medical management organizations and PBMs.
- Futrix Health allows for robust Pay-for-Performance program monitoring with the development of Patient Center Medical Home and ACO Analytics. Futrix is leveraged to surface specific HEDIS measures including Chronic Care Compliance Ratios. As these dashboards are resident, the users can easily drill down in to the use and cost drivers to make detailed program evaluation as well as the ability to share PCMH and ACO results with transparency to the provider.
- Actuarial Trend Reporting Systems can easily be built with Futrix. This Trend Reporting System allows the underwriters to determine trends by specific product line and project the cost drivers of the entire book of business. The Futrix Dynamic Grouping feature defines and stratifies micro-markets for the reporting of trend. By using the Futrix Cohort Analysis Groups for the risk business, plan sponsor premiums in the various Micro-markets rates can be set competitively to retain business.
- Futrix Health has the unique ability to combine claims, membership, pharmacy, medical management, HRA, risk, Health Information Exchange, and other data to create an analytical stream of data for holistic analysis which will quickly surface the cost drivers by the requested dimensions. This allows the management and the informatics team to continuously monitor care drivers allowing management to make provider reimbursement modifications as well as the creation of new and profitable products.
- Provider analysis and Provider Profiles can measure provider network performance as well as create contracting models for provider contracting, readmission rates, claims excellence review, and centers of excellence determination for product development.
- Futrix Health Dashboards have been created for medical directors to identify members with a high risk score who have specific diseases such as asthma, diabetes, COPD, CAD, and others in order to target those members for high-touch intervention for care and case management facilitating care cost reductions.
- Futrix Health dashboards can monitor medically managed cohorts of members. The programs can then be evaluated for program efficacy and ROI as well as care gap analysis using Futrix Health Cohort Analysis Groups. This allows the users to create medical management programs and retires others which are not effectively optimizing internal resources.