Frost & Sullivan Lauds VitreosHealth’s Advanced Predictive Analytics Solution for Providing Accurate Predictive Risk Analyses of a Population’s Health
As customers’ health initiatives develop, VitreosHealth’s solution will meet their needs for well-rounded, adaptive predictive and prescriptive analysis
MOUNTAIN VIEW, Calif. — July 19, 2016—Based on its recent analysis of the advanced population health analytics solutionsmarket, Frost & Sullivan recognizesVitreosHealth with the 2016 North America Frost & Sullivan Award for New Product Innovation.VitreosHealth’s advanced predictive analytics solution delivers ‘insights as a service’ to proactively reduce patient populations’health complications by anticipating their actions, instead of merely reacting after they occur.It integrates electronic health records (EHRs), as well as socio-economic and claims data to generate a specific risk analysisthatcanaid care management strategies.
BecauseVitreosHealth’s platform integrates more patient data than conventional systems, it is three to four times more accurate than predictive solutions that rely solely on claims information and previous care use. After it obtains the data, it‘cleans’ and normalizes itand generatesa population risk score and descriptive information related to the patient population, predictive analysis, and identification of program and workflow gaps.
“VitreosHealth addresses market needs with easy-to-view data, facilitating timely responses. Its storyboards display patient population information on a monthly basis, allowing customers to respond to patients quickly. Customers can customize reports and organize information asneeded,” said Frost & SullivanSenior Consultant, Sara Mitran. “Customers can easily access and trust the data because thesolution is configurable and adaptable, on a cloud-based platform that is HIPAA-compliant and secure.”
VitreosHealth focuses on provider and health system groups,accountable care organizations (ACOs) and payer networks. Itsper member, per month pricing modeland at risk agreements ensures customers only pay for their use of the solution based on benchmarks measured over time and savings achieved. As a result, customers show greater willingness to sign up for two-to-three year contracts, enabling the company to stay abreast of its customers’ changing needs and equipthem with relevant solutions.The solution’s success is spurringthe company to widen its market presence by expanding its sales force to almost triple its current size.
“VitreosHealth’s highly flexible platform enables it to evolve as its customers’ needs change, facilitating long-term partnerships and eventually, significant savings for their customers,” noted Mitran. “This advanced solution, combined with VitreosHealth’s commitment to customer satisfaction, offers customers a high return on investment (ROI), in some cases, as much as $25 million in annual savings.”
VitreosHealth has done a remarkable job of understanding customer needs in the advanced population health analytics solutions market and developing an innovative product to address those needs. Its advanced predictive analytics solution is uniquely positioned for sustained success as it addresses the core issues of quality, functionality, and reliability.
Each year, Frost & Sullivan bestows this award upon the company that has developed an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased ROI it offers customers, which, in turn, improves customer acquisition and overall market penetration potential.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
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