DALLAS and ALPHARETTA, Ga., Sept. 24, 2020 /PRNewswire/ -- Signify Health, a leading provider of technology-enabled healthcare solutions designed to keep people healthy and happy at home, and Ciox Health, a leader in health information management, today announced a strategic alliance to develop a master patient record for payers and risk-bearing health systems participating in value-based care models. The companies are each holdings of New Mountain Capital.
The partnership makes possible a secured longitudinal patient record in which insight gleaned from physicians and nurses dispatched by Signify Health to the homes of high-risk patients and data captured by its social care coordination services is combined with clinical data from Ciox's unmatched network of health systems, offering unprecedented access to actionable patient data. Ciox partners with 3 out of 5 hospitals and over 16,000 outpatient clinics fulfilling over 100M record requests annually, and Signify operates a national field-based network projected to conduct in-home visits and telehealth encounters with approximately 1.5M people in 2020, while also addressing social determinants with its network of over 200 community-based social care organizations. The creation of this master record, which can be made available to payer and health system clients of both organizations, is expected to create the most comprehensive view of a patient available in health care while decreasing data acquisition costs and improving data cycling and timing issues. This comprehensive profile can then be leveraged to drive more targeted engagement of patients with holistic services, which Signify brings to bear across a variety of channels and settings: in-home diagnostic and evaluative services, telehealth assessments, documentation of gap closure, post-acute care management, social care coordination, and more.
Today, data is fragmented across systems and sites of care, or in the case of home and community insights, is not available to traditional healthcare entities at all. In order to develop a holistic view of a patient that can help providers better manage outcomes, health plans and systems must stitch together a picture of the member from multiple data sources, a laborious and error-prone exercise. This is an acute business issue felt by patients as well, as the fragmentation of their own data across numerous sites and systems requires laborious and frustrating redocumentation, and often results in siloed engagements and disconnected experiences in their care.
With the combined nationwide coverage that Signify and Ciox represent across home-based, community-based and system-based networks across the country, integrating capabilities from the partnership will enable a more coordinated care experience for patients. Use cases will include driving improvements in quality, the most complete risk adjustment, and optimized performance in value-based programs focused on patient outcomes. The integrated data record will also assist other participating risk-bearing organizations, including Signify Health's own partners in the federal government's Bundled Payment for Care Improvement (BPCI) episode program, in obtaining unprecedented insight with which to optimize next-site of care, length of stay within high-cost settings, and other care planning decisions.
"Comprehensive data is the tip of the spear when it comes to engaging patients effectively in their healthcare," said Signify Health CEO Kyle Armbrester. "And patients should know that their plan and providers have a secure, reliable way to ensure teams of clinicians and other health care professionals can work together to help them enjoy more healthy, happy days at home."
"Seamless access and exchange of patient data to inform healthcare decisions and plans should be table stakes," said Pete McCabe, CEO of Ciox. "We are thrilled to partner with Signify Health on enabling more comprehensive insights, data sharing, and coordination across the care continuum."
"The next wave of health reform will be fueled, in part, by the free and secure movement of data across sites and into the hands of those who finance and deliver clinical and social care to help them make the best decisions for their members and patients," said Matt Holt, President of Private Equity at New Mountain Capital. "We're proud to support this collaboration between two industry leaders."
About Signify Health
Signify Health is a leading provider of technology-enabled healthcare solutions designed to keep people healthy and happy at home. We are accelerating the movement to value-based care by working with payers and providers to address both the financing and delivery of care, and sharing accountability for driving better outcomes for the individuals and families we serve. Our innovative episodes of care payment models and personalized health assessment and care coordination services enable us to close clinical and social care gaps, manage risk and drive a better experience for millions of people each year. Applying powerful analytics and clinical expertise, we support individuals' health journeys from the acute care facility to the ideal next site of care and all the way to a place of residence, helping people get home sooner and stay there longer. We support care needs anywhere in the U.S. through our high-performance provider and community networks – including the nation's largest mobile, field-based network of doctors and nurse practitioners trained and ready for in-home visits. For more information on how we are taking health homeward, visit us at signifyhealth.com.
About Ciox Health
Ciox Health, a leading health technology company, simply and securely connects healthcare decision makers with the data and hidden insights in patient medical records. Combined with the industry's most extensive network access to healthcare data, Ciox Health's expertise, relationships, technology and scale make a difference for healthcare stakeholders and empower greater health for patients. Through its technology platform, which includes solutions for data acquisition, release of information, clinical coding, data abstraction, and analytics, Ciox helps clients securely and consistently solve the last mile challenges in clinical interoperability. Learn more about Ciox technology and solutions by visiting www.cioxhealth.com or Twitter and LinkedIn.
For more information:
Chief Strategy Officer, Signify Health
Chief Policy and Strategy Officer, Ciox Health
SOURCE Signify Health