SEATTLE, Nov. 12, 2013 /PRNewswire/ -- Milliman, a premier global consulting and actuarial firm, today announced the launch of a next generation Hospital Performance Index software, a benchmarking tool for payers and providers that uses statistical methods to identify opportunities for increased efficiency in patient populations. The enhanced product significantly enhances the granularity of hospital benchmarking available to payers and providers and fits the needs of accountable care organizations (ACOs) by identifying instances where care management may yield improved quality and increased efficiency.
"The move toward accountable care spurred by the Affordable Care Act requires payers and providers to constantly benchmark their populations in search of opportunities for increased efficiency," said John Cookson, Milliman principal. "The enhanced Hospital Performance Index, which builds on technology with a 20-year track record, is optimized for today's market and allows national, regional, and local benchmarking. This benchmarking can be performed using multiple variables, including DRGs, major disease category, readmissions, and avoidable inpatient days."
The enhanced Hospital Performance Index includes an updated user interface that brings these benchmarks to payers and providers in an intuitive fashion. The benchmarks can be applied against Medicare, Medicaid, and commercial populations and allow for comparison with every hospital in the country. The updated tool can help payers and providers prioritize their care management efforts, highlight instances where better management could result in cost reduction, and aid in contract negotiations and in the creation of accountable care partnerships. For more information, go to http://us.milliman.com/hpi/.
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit www.milliman.com