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Data Reveals Health System Opportunity to Grow Revenue, Strengthen Primary Care Alignment and Build Market Share
NASHVILLE, Tenn., July 19, 2019 /PRNewswire/ -- Applied Health Analytics, LLC, a provider of best-in-class analytics, technology and consulting services to health systems across the United States supporting population health and value-based care arrangements with employers, offers new data supporting U.S. health systems' opportunity to drive revenue and increase commercial market share, utilizing current resources.
Applied Health Analytics' data reveals that many health systems sub optimize investments in employer-centric, onsite screening events. According to the company, 31 percent of employees screened during health system sponsored events indicated they have no primary care physician.
"This represents an immediate opportunity to link insured consumers with investments in primary care practices," said Gene Lane., senior vice president, market operations at Applied Health Analytics. "A single referral equals $1,467 in net, primary care revenue. This means that 31 individuals within a workforce of 100 can generate over $45,000 in PCP practice revenue, excluding resulting downstream revenue.
"Health systems engage employers and deploy resources for the purpose of providing workplace biometric screenings. However, the majority of these initiatives stop there," continued Lane. "They seldom leverage resulting data revealing high-risk employees with the opportunity to link them with system resources."
The Advisory Board's annual Health Care CEO Survey, which gleans insights into what motivates top health system CEOs across the country, identified diverse revenue growth as a top issue. The 2019 study also revealed a desire to strengthen relationships with primary care physicians.
"Health Systems face increasingly disruptive competition for primary care services from organizations like CVS, Walgreens, and onsite and retail clinics. The change to move the point of care closer to where consumers live or work helps reinforce the system's brand, while addressing a key financial concern of employers. . . health benefit expense," followed Lane.
Biometric screenings accompanied by health risk assessments provide greater opportunities to align individual health needs with health system resources. Assessments identifying the need for CDC-recommended screenings and examinations, typically covered and paid for by the employer's health plan, equate opportunities to build volume and revenue. Applied Health Analytics' data shows that 37 percent of females over the age of 40 indicate they have not had a mammogram within the past two years. Additionally, 42 percent of employees have not had a physical examination and another 48 percent of individuals over the age of 50 have not had a colonoscopy.
"While charges vary across markets, the revenue opportunity for health systems engaging in onsite screenings as a growth strategy represents approximately $117,632 per 100 employees screened," concluded Lane. "With the right risk-stratification technology and integration of services, health systems can position themselves as preemptive partners, providing win-win scenarios for all involved. "
About Applied Health Analytics, LLC
Founded in 2009, Nashville-based Applied Health Analytics, LLC provides a range of analytics, technology and services to hospitals and health systems that support population health, value-based care arrangements, employer-centric strategies and risk-based contracting. A joint-venture partner with Vanderbilt University Medical Center and Charlotte, North Carolina-based Atrium Health, Applied Health Analytics empowers hospitals and health systems to administer programs that influence a positive payer mix, reduce health benefit costs, improve quality outcomes and manage patient health.
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SOURCE Applied Health Analytics, LLC