Advances KLAS Leader for Better Patient Outcomes
ST. LOUIS — April 24, 2017 — Lumeris, headquartered in St. Louis and the 2015/2016 and 2017 Best in KLAS leader in Value-Based Care Managed Services, announced today that it has acquired Forecast Health, an advanced analytics and predictive modeling company.
“Forecast Health’s success with open-source and SAS analytics, business intelligence and data mining has produced healthcare’s most accurate early identification of adverse events for patients and populations allowing our physician and provider partners to further lower healthcare costs while improving clinical outcomes,” said Matt Cox, senior vice president of solutions and product management for Lumeris. “Combining Forecast Health and Lumeris’ technology and data architectures improves the efficacy of Lumeris’ comprehensive population health solution while lowering implementation timeframes and costs for our partners.”
Forecast Health’s proven predictive models integrate the industry’s vast store of disaggregated financial, clinical and social determinant data to produce powerful insights and care plans that drive better healthcare outcomes, including:
- Identifying members and healthcare consumers with the highest clinical and financial risks by combining clinical, claims and social determinants of health data
- Analyzing patient- and household-specific data points, including lifestyle factors, financial information, home spending and geospatial data to make connections, spot trends and help providers prioritize efforts
- Helping care managers identify patients who are at risk of adverse events, why and what can be done about it
- Identifying risk up to 30 days before surgery so interventions can be provided to shorten recovery
- Determining the most appropriate setting, prior to admission, to prepare patients and family with the safest discharge option
- Using the person-specific social determinants of health to tailor post-op home evaluations, caregiver support, diagnostic tests, physical therapy and other interventions.
Forecast Health’s predictive models have been validated by the Society of Actuaries. In a report issued in October, 2016, Forecast Health’s predictive modeling approach was at least 9 percent more accurate at predicting the top 1 percent of costs and at least 25 percent more accurate at predicting healthcare costs overall. In a recent study by the North Carolina Hospital Association, Forecast Health produced a 34 percent higher predictive rate on hospital readmissions.
Dr. Michael Cousins, Forecast Health’s co-founder and chief analytics officer, has joined Lumeris as its chief analytics officer.
“I am incredibly excited about joining the team at Lumeris. Both companies share the same mission—to apply advanced data solutions, proven operational models, workflow integration and physician engagement to drive value-based outcomes,” said Dr. Cousins. “Accurate, early identification of future adverse events can have a meaningful impact on patient outcomes, improving the quality of care and lowering patient costs. The earlier we can help a provider or payer intervene the better it is for the patient, their family and the healthcare system overall. We’re excited to join the Lumeris team and change the paradigm of healthcare delivery. Lumeris accelerates our mission of making a difference in people’s lives.”
“Forecast Health brings a world class team of care delivery experts and data scientists, led by Dr. Cousins, a proven leader in the field of predictive analytics,” said Mike Long, Lumeris’ chief executive officer. “The acquisition of Forecast Health demonstrates our commitment to our physician, payer, health system and patient partners to be agile and innovative in delivering them the solutions they need to succeed and prosper with value-based care.”
Lumeris brings common sense to healthcare. We provide strategic advising and technology to help providers and payers get back to the way healthcare should be—and share in the rewards. We guide health systems and providers through seamless transitions from volume to value, enabling them to deliver improved and more affordable care across populations—with better outcomes. And, we work collaboratively with payers to align contracts and engage physicians in programs that drive high-quality, cost-effective care with satisfied consumers—and engaged physicians.
An industry recognized leader, Lumeris was awarded 2017 Best in KLAS for value-based care managed services for helping clients deliver improved clinical and financial outcomes. This was the second year we received this distinguished award. For the past six years, Essence Healthcare, Lumeris’ premier client with more than 63,000 members in Missouri and Illinois, has received 4.5 to 5 Stars from the Centers for Medicare and Medicaid Services. We enjoy working with all of our clients, delivering these same results, and aligning our proven multi-payer, multi-population model with their value-based care vision.