Optum Honored at Frost & Sullivan's 2016 Growth, Innovation and Leadership Awards
Optum beats out competition to take home the Company of the Year award for its success in addressing diverse value-based care needs in the PHM market
SANTA CLARA, California, May 9, 2017 /PRNewswire/ -- Optum walked away with top honors in the prestigious Company of the Year category at the 2016 Growth, Innovation and Leadership Awards, Frost & Sullivan's annual banquet honoring the industry's best. The well-attended black-tie event brought together the leaders and innovators from a cross section of industries. A.G. Breitenstein, Analytics Chief Product Officer at Optum joined an elite list of luminaries when she accepted the award on behalf of Optum.
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As the health services and innovation business unit of UnitedHealth Group (NYSE: UNH), Optum has won acclaim from Frost & Sullivan for its population health management (PHM) solution. Although there are more than 100 health care IT companies in the U.S. PHM market, most serve only specific segments. Optum serves all categories of healthcare stakeholders. It was chosen as the best-in-class vendor for its robust analytics, financial performance and best practices for care providers, health plans, employers, government organizations and other stakeholders.
According to a recent Frost & Sullivan report, (https://www.optum.com/campaign/al/frost-and-sullivan.html), best-in-class companies address not only present PHM needs, but also direct their efforts to constantly evolve to cater to market transformation. They offer secure, interoperable and highly customized solutions that monitor, predict and manage patient conditions across the continuum of care.
"Optum provides superior connectivity and a HIPAA-compliant care coordination infrastructure that connects with all major care providers, regardless of their underlying technology platforms," said Frost & Sullivan Industry Analyst Koustav Chatterjee. "Since its care coordination technology is cloud-based, care providers enjoy unmatched scalability and receive the benefits of periodic upgrades."
At the same time, many commercial insurers are devising consumer-centric health plans that provide incentives for preventive, value-based care while being successful. Optum ensures that every payer organization is effectively assessing industry transformation and re-engineering business propositions in line with the changing healthcare landscape.
Frost & Sullivan also found that Optum solutions support organizations across the PHM value chain. For example, Optum's data and analytics capabilities provide insights to define populations, identify gaps in care, stratify risk, engage patients, manage care and measure outcomes. Optum recently launched a managed services model for analytics and population health (Optum Managed Value and Risk Analytics) that combines its data, technology, advisory services and global operations to partner with care providers and health plans.
"Optum, while participating in a contested market, has created demand for its technologies and services. Its holistic healthcare approach is highly receptive to progressive healthcare entities that are transitioning to various risk or value-based healthcare ecosystems," the report noted.
Each year, Frost & Sullivan presents this award to the company that has demonstrated superiority in devising and implementing a strong growth strategy. The recipient has been proven a leader not only in its industry, but also among non-industry peers. Recipients have exhibited remarkable innovation in products and technologies, leadership in customer value as well as speed in responding to market needs. In short, the award looks at the emerging participants in the industry and recognises their best practices that position them for future growth.
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 to identify best practices in the industry.
About Optum
Optum is a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone. With more than 115,000 people worldwide, Optum delivers intelligent, integrated solutions that help to modernize the health system and improve overall population health. Optum is part of UnitedHealth Group (NYSE:UNH). For more information, visit http://optum.com.
About Frost & Sullivan
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