FUTRIX HEALTH BUSINESS SOLUTIONS
Futrix Health is a revolutionary self-service business intelligence solution. Futrix Health can continuously monitor and measure all facets of a healthcare 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 ability to deliver immediate ROI. Futrix Health is able to provide quick information enabling decision support to reduce medial trend thereby improve market share.
- Futrix Health can revolutionize the way informatics teams completes analytics with less programming and applying business solutions to the information which is surfaced quickly. Futrix Health’s ability to push custom alerts allow any user 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 previously mentioned 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 can surface specific HEDIS measures including Chronic Care Compliance Ratios. Using Dashboard, users can easily drill down into the use and cost drivers to make detailed program evaluation as well as having the ability to share PCMH and ACO results with transparency to the provider.
- Actuarial Trend Reporting Systems can easily be created using Futrix. Trend Reporting System’s delivered using Futrix, allow underwriters to determine trends by specific product lines and project the cost drivers of the entire book of business. The Futrix Dynamic Grouping feature can be used to define and stratify micro-markets for the reporting of trends. Cohort analysis groups can be used to create your own categorical dimensions to analyze consumer segment groups based on specific areas, for example setting plan premium rates based on consumer risk.
- 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 required dimensions. This allows management and informatics teams to continuously monitor care drivers and provide opportunities for management to make provider reimbursement modifications as well as the creation of new and profitable products.
- Provider analysis and Provider Profiles created using Futrix Health can measure provider network performance as well as generate contracting models for provider contracting, readmission rates, claims excellence review, and centers of excellence determination for product development.
- Futrix Health Dashboards can be created for medical directors to identify members with a high risk score who have specific diseases such as asthma, diabetes, COPD, CAD, and others to enable targeting of those members for high-touch intervention for care and case management, which can facilitate significant care cost reductions.
- Futrix Health Dashboards can monitor medically-managed cohorts of members. The member programs can then be evaluated forprogram 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.