Ann Arbor, MI—Altarum today announced that PROMETHEUS Analytics®—the model for all bundled payment programs implemented in the United States—has expanded its product suite to include four new value-based health care analytics platforms. The new products will help health systems, purchasers, payers, and providers more easily identify wasteful spending, underuse of needed care, potentially avoidable complications, provider performance, and many other hot spots.
This expansion builds on the PROMETHEUS bundled payment platform, which was pioneered more than 10 years ago, and continues to be model that health systems, purchasers, payers, and providers rely on to analyze claims data to create an episode of care on which value-based payment models and performance evaluation are based.
This bundled payment platform—now known as PROMETHEUS Bundled Pay™—continues to form the foundation of health care value-based initiatives, but is now complemented by four new products that deliver the data and insights needed to enact more targeted value and quality improvements:
PROMETHEUS Opportunity™ analyzes episodes of care and treatment variations, directing users towards insights needed to reduce wasteful spending and increase quality.
PROMETHEUS Value™ measures and calculates low value care in order to quickly and easily understand why it’s happening, and where to focus improvements. Examples of low value care include the overuse of unneeded services, under-use of needed care, and services used to treat potentially avoidable complications.
PROMETHEUS Networks™ compares provider performance on costs and quality, helping users to identify high-value providers and create a more effective and efficient network. It also reveals providers who are excelling at managing specific episodes, including chronic care, cancer care, cardiac care, and more.
PROMETHEUS Custom Analytics™ draws out insights needed to address complex problems, from identifying which improvements will be most effective for an organization to viewing medical care costs and quality through a more transparent lens. Analytics can be customized to reflect the special characteristics of user populations and policies.
Building on a History of Innovation
Since 2007, PROMETHEUS’ open access episode definitions have been used widely for public reporting. PROMETHEUS Analytics power the price and quality transparency resources for the states of Maryland, Colorado, and New York. Large health plans, including Anthem and Cigna, are using the PROMETHEUS Analytics to drive their value-based payment programs. And now, the unique health care insights and answers powered by PROMETHEUS are wider in scope, easier to use, and more innovative than ever.
“As payers, providers, policymakers, and consumers struggle with how to make health care more affordable, it’s essential to have the analytic tools to identify the solutions that will have the greatest impact, and that’s what we’re offering with the new PROMETHEUS Analytics Suite,” said François de Brantes, vice president and director of Altarum’s Center for Value in Health Care. “Honed and perfected for over ten years, these solutions are now ready and tailored to solve many of the challenges faced by payers and providers as they move to value-based care.”