DEERFIELD BEACH, Fla., Aug. 26, 2020 /PRNewswire/ -- Agilum, Inc., a leader in advanced healthcare analytics solutions, recently announced a collaboration with Meadows Regional Medical Center (Meadows) in Vidalia, Georgia, to identify cost savings and growth opportunities through Agilum's advanced analytics platform and Agilum Healthcare Intelligence services team.
Meadows' long-term strategy depended on a full understanding of the viability of its service lines. To achieve this ongoing analysis, the hospital partnered with Agilum in 2014 for its Service Line Costing & Profitability software solution.
"Our clients demand sophisticated analytics to succeed in today's complex healthcare system and survive ever-diminishing margins. Agilum's technology platform, combined with the most experienced service teams in the industry, uniquely identifies insights that no other solution out there can master. We deliver more customizability, more expert services and more actionable information in real-time," says Travis Leonardi, CEO at Agilum.
Since implementing Agilum's advanced analytics capabilities, Meadows has gained valuable learnings around several key business initiatives, including:
Physician revenue cycle analysis – Agilum provides physicians at its associated clinics with monthly revenue cycle reports to help them consider whether certain supplies, medications, and treatment decisions could be more cost-effective without compromising quality of care.
Employer cost analysis – Meadows uses Agilum to analyze patient encounters from the top 10 employers in the area, creating reports for employers that illustrate the diagnoses, frequency and cost of care their employees receive at Meadows.
High-utilizer identification and intervention – Agilum identified the top 100 most frequent emergency department users over the course of a year and pulled most common diagnoses, reimbursement records, primary care physicians and more. Case managers use this information for early intervention, resulting in reduced costs and improved outcomes.
Agilum has consistently enabled Meadows to study the overall profitability of its service lines and make crucial decisions about whether to exit certain services or invest further. "I can run a business line report and see charges, payments, adjustments, costs and net profit for any given business unit," says Mike Hagan, Vice President of Revenue Cycle Operations at Meadows. "Without this insight, as an executive, I would not be able to function. I've really taken to Agilum's Service Line Costing & Profitability solution and worked to become an internal ambassador. We're going to see a lot more utilization of Agilum in the future."
About Agilum, Inc.
Agilum is a new kind of healthcare business intelligence company that utilizes real-world data to deliver real-world evidence and hard, objective pharmacy and financial analytics for hospitals, life sciences companies and payers. Our proprietary Comparative Rapid Cycle Analytics™ (CRCA™) solution leverages a revolutionary longitudinal population database to help healthcare leaders make more informed formulary decisions that reduce costs and improve quality of care, while our innovative financial analytics platform enables insights within the healthcare organization to help manage profitability, boost departmental efficiency and optimize revenues. Our goal is simple: to drive better outcomes while leading the transition to value-based care.