With the rise of value-based care and models like the new Bundled Payments for Care Improvement Advanced program, organizations across the healthcare spectrum are taking note.
Accenture and Loopback Analytics are two such groups. Accenture provides strategy and consulting services, while Loopback offers data integration and analytics solutions.
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They are teaming up to assist health systems that want to participate in value-based care initiatives.
In a recent phone interview, Loopback Analytics CEO Neil Smiley said that though the companies have been working together for about a year, this seemed like the best time to launch the initiative.
“One of the catalysts for wrapping this up now is Medicare announced their BCPI program, which is kind of a reboot of bundled payments,” he said. “This represents a renewed commitment on the part of CMS to embrace alternate payment models in general.”
The collaboration brings together Accenture’s services and Loopback’s EpisodeInsights platform. Through these offerings, health systems will be able to gain information and understanding about bundled payment participation and its impact across 32 CMS-defined clinical episodes.
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Smiley noted that this work will nicely integrate Loopback’s data tools with Accenture’s consulting expertise.
“Accenture is very much taking the lead in this area,” he said. “We’ll work with them and through them as we work to bring it to Accenture’s clients.”
By joining forces, the companies will also help health systems improve clinical variation. They’ll rely on Loopback’s platform and couple it with Accenture’s recommendations to refine clinical processes.
Looking ahead, Smiley believes there are a number of changes ahead that will push hospitals toward success in value-based care initiatives.
“We think [this collaboration] rounds out the analytics we provide,” he said. “There are a lot of analytics tools, but … they can fall flat. This is a real opportunity to translate insights into a return on investment.”
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