Hospital Industry Veterans Launch iVantage Health Analytics, Inc. to Help Providers Meet the Demands of the New Healthcare
PORTLAND, Maine, Sept. 15, 2011 /PRNewswire/ -- Veteran healthcare industry executives Hud Connery, Tom Day, LeeAnne Denney, and John R. Morrow today announced that they have combined their respective companies (Performance Management Institute, LLC, of Portland, ME; The Healthcare Management Council, Inc., of Needham, MA; Health InfoTechnics, LLC, of Nashville, TN; and The Ratings Guy, LLC, of Belfast, ME) under the umbrella of a common parent company to provide a single source of business intelligence solutions to help providers address the complex requirements of managing under the new healthcare. Although the existing companies will continue certain operations, all new business opportunities will be pursued by the newly formed parent entity, and ultimately all consolidated into the single entity.
Named iVantage Health Analytics, Inc.™, the privately held company, provides comprehensive and objective business information products to help hospitals and health systems strategically manage their growth during a period of significant health reform.
"Hundreds of billions of dollars are at stake for healthcare providers. We know that healthcare executives say that they are extremely concerned about the increased regulatory mandates and oversight of the Affordable Care Act (PPACA). Providers are also worried that they may be paid less than the cost of providing the care," explained Hud Connery, president of iVantage Health.
"The Affordable Care Act is in essence about increasing access to care for the uninsured. Hospitals and other providers must plan for this fundamental shift in care delivery and the enormous associated costs," explained John R. Morrow, a company co-founder. This additional burden comes at a time when industry trends such as transparency, accountable care and reduced reimbursement have added stress to an already strained system. "The new rules are different and equally as complex as the old rules, yet they have economic consequences which can be punitive," adds Morrow. "Managing under the new healthcare will require expanded competencies for assimilating information in order to maintain a sustainable organization. Our company makes executives better prepared to manage in this complex environment."
The company provides a single source of business intelligence to hospital executives allowing them to confidently manage under the new healthcare. iVantage Health brings together all of the different and new measurements required under the PPACA into a single source. Market supply conditions are integrated with measures of patient safety, quality, efficiency, affordability, patient satisfaction, and population demand which are delivered through a comprehensive dashboard platform. "Our company provides comprehensive and objective information to help hospitals improve their performance so they can be successful. Bringing this disparate information together for the industry is a big deal in today's healthcare environment," said Tom Day, a company co-founder.
The combined companies are already delivering their products to more than 550 hospitals across the country to help hospitals and ACOs plan for a formerly uninsured population and its demands, prepare for the value-based purchasing rules, and remove the unnecessary costs associated with off-quality care.
"Ultimately, those who will most benefit from the combined expertise are hospitals struggling with too many silos of data and not enough integrated information. The new healthcare needs new intelligence to effectively manage in this era of health reform. And we have that intelligence." said LeeAnne Denney, another company co-founder.
About iVantage Health Analytics
iVantage Health Analytics, Inc.™ is a privately held healthcare business intelligence and technology company. The company was formed to be the parent company for Performance Management Institute LLC, The Healthcare Management Council, Inc., Health InfoTechnics, LLC, and The Ratings Guy, LLC. The businesses ultimately will consolidate assets and operations into one entity. The company is a leading provider of information products serving an expansive healthcare industry. iVantage Health Analytics™ integrates diverse information with innovative delivery platforms to ensure customers' timely, concise, and relevant strategic action.
For more information, visit www.iVantageHealth.com.
Contact: Kathy Gill
SOURCE iVantage Health Analytics, Inc.