Richard Gliklich, Founder & CEOThe paradigm shift from volume-based service to value-based care in healthcare is reshaping the information needs as well as emphasizing the requirements for outcomes measurement. This evolution is moving healthcare organizations towards outcomes-based and risk-sharing models with an emphasis on developing a robust connection between clinical outcomes and actual value. To achieve success with these emerging models, there is a huge demand for new, valid and standard approaches that can meet various stakeholder requirements and effectively analyze the most appropriate metrics. That’s where OM1 comes into the picture. OM1 provides outcomes analytics and data solutions that connect outcomes to value, using relevant information and standardized measures for understanding risk and tracking performance. “We have created a standardized and rigorous approach that helps facilities, providers, and other stakeholders to cost-effectively measure and predict individual patient outcomes in a scientifically robust and clinically meaningful way,” begins Richard Gliklich, Founder and CEO, OM1.
OM1’s outcomes analytics system is focused on simplifying the way healthcare providers measure and manage clinical and financial outcomes. With the system, organizations can effectively integrate and automate outcomes data and identify and act on value-driven insights. “The information generated by the system is useful from a big picture view of an organization down to a more detailed understanding of results, whether at the condition, pathway, therapy or provider level,” asserts Gliklich. Along with that, it also helps in reporting and analytics, while delivering relevant insights to support critical clinical and financial decisions faced by healthcare organizations. Further, by leveraging OM1’s unique approach, organizations can use patient cohorts to provide evidence-based recommendations for value-based deal structures and track outcomes to evaluate the merit of agreement metrics.
OM1’s outcomes analytics solutions are powered by a combination of rigorous science, innovative clinical analytics, machine learning technology, and backed by their own database which is one of the largest clinical and administrative datasets in the United States. “We access the data linked to our database, integrate it with client’s data and then deliver predictive and prescriptive analytics that center on the risks that are actionable and most relevant to patients, populations, and programs,” elucidates Gliklich.
We want to flourish not only as a company that provides standard outcomes measurement and predictive analytics nationally, but as one that has a transformational impact by personalizing big data at every level
By leveraging outcomes management and predictive analytics, healthcare organizations can reliably avoid high cost penalties, maximize reimbursement payments, and also personalize care, enabling more informed decisions.
OM1 has demonstrated success in assisting clients with increasing ROI, making better decisions, and optimizing patients’ treatment. For instance, OM1 worked with a couple of orthopedics facility centers in New York, which implemented OM1’s system to meet the requirements for Comprehensive Care for Joint Replacement model (CJR). With the help of OM1’s outcomes management and predictive analytics tools, the centers were able to meet program requirements, understand and optimize their outcomes and save money by identifying patients at risk for costly events and notifying clinicians when to intervene. “Introducing standardized outcomes measurement into the healthcare system has changed the way in which people think about the care they deliver and helps them make better informed decisions,” articulates Gliklich.
For the road ahead, OM1 is expanding their offerings into cardiac care and additional high-cost condition areas that have the greatest opportunity for reducing the cost of and improving patient care, especially under risk-based agreements. The company is also planning to further leverage patented technology to enable more precise and personalized treatment paths. “We want to flourish not only as a company that provides standard outcomes measurement and predictive analytics nationally, but as one that has a transformational impact by personalizing big data at every level,” concludes Gliklich.