MOUNTAIN VIEW, Calif., Feb. 28, 2014 /PRNewswire/ -- Based on its recent analysis of the acute and specialty care market, Frost & Sullivan recognizes ArborMetrix, Inc. with the 2014 North American Frost & Sullivan Award for Product Innovation Leadership. ArborMetrix's leading cloud-based reporting and analytics platform for measuring clinical performance and efficiency in acute and specialty care now includes a breakthrough surgical video analysis tool. This innovative offering provides experts with video-based tools that enable organizations to better train and evaluate surgeons, with the ultimate goal of improving surgery outcomes for patients. ArborMetrix has already integrated the video surgery analysis capabilities into its registry solution for bariatric surgery, and is now actively rolling it out through its cancer surgery and hernia surgery registries.
ArborMetrix's analytics platform enables both healthcare providers and payers to evaluate the effectiveness of evidence-based care, which has led to significant improvements in quality, safety, and cost-effectiveness of surgical intervention and associated specialty care. It provides benchmarks for procedures, physicians, and hospitals for use in data collection and integration, performance feedback, Maintenance of Certification (MOC) IV compliance, clinical decision support, surgeon skill ratings, and patient engagement. The platform helps to manage and maintain efficient and cost-effective clinical registries, performance measurement systems, and quality improvement programs. The cloud-based architecture of the platform allows for rapid deployment of the solution without the need for IT resources.
The comprehensive solution provides evidence-based actionable intelligence across acute and specialty care, which is the largest healthcare expenditure in the U.S. It is innovatively designed for hospital and health systems alike. Furthermore, its new performance measurement platform is designed to enhance evaluation, surgical techniques, and patient outcomes.
"This holistic approach allows ArborMetrix to be positioned in a unique niche and accelerates the movement of the healthcare system toward coordinated care, bundled payments, and value-based reimbursements," said Frost & Sullivan Research Analyst, Swathi Allada. "As value-based reimbursement becomes the norm, the analytical technique proposed by ArborMetrix could emerge as the ideal way of improving quality, while reducing cost."
Frost & Sullivan estimates that an average hospital in the U.S. has between 300-500 avoidable complications in general surgery per year, which costs around $11,000 per case to manage. This amount increases exponentially with multiple complications translating to nearly $4 million to $5 million unavoidable costs, for which no reimbursement is available. ArborMetrix has worked diligently on studying the market before developing its path breaking solution with far-reaching clinical and economic benefits.
In addition, extensive clinical research by ArborMetrix customers has demonstrated a remarkable return on investment (ROI) for facilities conducting multi-specialty procedures, including bariatric, oncology, hernia, and spine surgery. It helps organizations make decisions that improve surgical care, thereby increasing throughput and delivering quicker ROI. The company estimates that the average annual R&D spend over the next five years will be almost 35 percent of its revenue.
"ArborMetrix's growth path in the U.S. market mirrors the company's ongoing achievements, numerous early successes, and promising near-term prospects in several markets globally, including South America and Europe," noted Swathi Allada. "The universal acknowledgment of ArborMetrix's technology and product value validates the value proposition the company brings to the fields of acute and specialty care and the broader healthcare community as a whole."
Each year, Frost & Sullivan presents this award to the company that that has developed an innovative element in a product by leverage leading-edge technologies. The award recognizes the value added features/benefits of the product and the increased ROI it offers customers, which in turn increases customer acquisition and overall market penetration potential.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About ArborMetrix, Inc.
ArborMetrix, Inc., located in Ann Arbor, Michigan, provides a unique, cloud-based platform for performance measurement and clinical intelligence in acute and specialty healthcare. Based on its industry changing econometric research, ArborMetrix solutions deliver rigorous data analysis and actionable business insight while incorporating advanced proprietary risk and reliability adjustments. With valuable insights grounded in clinical evidence, ArborMetrix clients quickly achieve quality improvements and cost savings. For more information, visit www.arbormetrix.com, email firstname.lastname@example.org.
About Frost & Sullivan
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SOURCE Frost & Sullivan