from the Center for Medicare and Medicaid Services reveal that Accountable Care Organizations (ACOs) that use PatientPing, a care coordination platform, have seen higher savings than other ACOs, the company reported.
PatientPing gives “real-time” notifications to providers whenever a patient receives care at another institution. It also gives the caregivers what the company calls a story, which includes context about the attributed provider, visit histories, and care program affiliations.
One hundred percent of Next Generation ACOs who were PatientPing customers earned shared savings, whereas just 61 percent of all Next Generation ACOs did, according to a statement from PatientPing. PatientPing also reported that while 31 percent of ACOs in the Medicare Shared Savings Program saw shared savings nationally, PatientPing ACOs saw an almost 20 percent higher success rate. Altogether, PatientPing customers saved saved more than $120 million over the year.
Brian Manning, PatientPing's head of growth told Babyforyou.net.ua that PatientPing didn’t deserve all the credit for these savings, but that the results are promising for the company.
“If you are an ACO care manager, you are responsible for keeping costs down for a set of patients. If you get a notification [from PatientPing] that a patient is at the hospital, you can then engage the provider that is treating that patient and coordinate care,” said Manning.
This communication can provide valuable information that could also save providers money, such as if the patient has a support team at home. Although this data was looking specifically at ACOs, PatientPing is also working with fee for service providers
"When I see the numbers, it lets us know that care managers and ACOs are looking for technology to aide what they are doing," said Manning.
PatientPing also helps ACOs flag their high utilizers so that they can better coordinate care for patients at a lower cost and in an appropriate setting.
"We’ve seen that this product allows care managers to reduce the likelhood of readmission and get patients into an appropriate setting," Manning said.
Last December PatientPing announced that it received $31.6 million in Series B funding which brought its total funding up to $41.2 million. The company planned to use the funding to hire more staff, expand services into new geographic locations and further the development of PatientPing’s offerings. At that time the company had a network of more than 15,000 providers.
“We aren’t taking credit for all these numbers,” said Manning about the most recent data. “I do think this is an indicator of healthcare providers need to work together and need to work in a team to take care of patients in the optimal way.”