SOURCE: Predixion Software
ORLANDO, FL--(Marketwired - Feb 24, 2014) - HIMSS14 Annual Conference Booth #4893 -- Predixion Software, a leading developer of collaborative predictive analytics software, announced today the joint development of Predixion Length of Stay (LOS) Insight. This software solution will allow hospitals to develop individualized care plans based on each patient's risk factors and use this information to optimize the delivery of needed healthcare services. Carolinas HealthCare System, one of the largest non-profit healthcare systems in the nation, is co-developing this novel platform, leveraging the healthcare system's expertise in acute care delivery and substantial investments in data and analytics.
Optimizing care delivery and reducing each patient's length of stay in the hospital is a consistent challenge to provider organizations across the country. Hospitals can receive financial penalties and reduced reimbursement for hospital stays that extend beyond CMS guidelines. With Predixion LOS Insight, hospital care managers can identify each patient's risk for having an extended LOS in real time, and then they can take proactive steps to mitigate these risks and optimize the delivery of services in order to improve patient care.
"The partnership to co-develop this platform is a direct result of Carolinas HealthCare System's commitment to transforming healthcare for the benefit of our patients, community and the health care industry," said Carolinas HealthCare System Chief Medical Officer Roger Ray, MD. "Thanks to our size, clinical expertise and depth of analytical talent we can help to conceptualize and develop predictive models that will improve patient care not only at Carolinas HealthCare System, but at healthcare systems throughout the country."
Traditionally, hospitals have used historical data and standardized benchmarks assigned by an intake nurse at the time of admittance to manage length of stay. Often that data remains static and is not re-evaluated until the patient exceeds the estimated length of stay. Predixion LOS Insight applies powerful predictive models to this process to provide a more dynamic and forward-looking analysis of the many variables that influence each patient's length of stay. Additionally, the solution enables hospitals to gain clear visibility of the factors driving LOS to optimize the delivery of care and achieve better clinical outcomes.
"With mounting financial pressures and razor-thin operating margins, the ability to estimate and manage length of stay is one of the biggest challenges facing hospitals today," said Michael Hollenbeck, vice president of healthcare at Predixion. "Predixion LOS Insight will reduce the burden of suffering that an extended hospital stay causes for patients and their families, while also providing benefits to a hospital's bottom line."
Stratifying risk at each stage of a patient's stay
Predixion LOS Insight will risk stratify patients as soon as they are admitted to the hospital. Throughout the patient's stay, new and updated data will be used to better predict the patient's risk for an extended LOS. Predixion LOS Insight provides a continuous view into these evolving risks, so hospitals can coordinate patient care and resource planning in real time. At each stage of a patient's stay, care managers will be able to closely monitor how the projected LOS has changed and then use these insights to identify proactive changes to care delivery and operational processes from admission to discharge.
"The ability to identify high-risk patients before excess LOS days have occurred is an exceptionally valuable capability for hospitals and their care managers," said Allen Naidoo, PhD, vice president for analytics at Carolinas HealthCare System. "Across their different teams and facilities, this solution will give healthcare organizations like Carolinas HealthCare System unprecedented insight into length of stay so they can more effectively manage resources and increase the efficiency of patient care. Having previously partnered with Predixion Software to develop a predictive readmission model, we know how to leverage our clinical and analytic skills with the advanced health information technology capabilities of Predixion to create an entirely novel approach for improving the experience and quality of care we provide for our patients."
Predixion Software is currently attending the 2014 Annual HIMSS Conference & Exhibition in Orlando, Florida and can be located at booth #4893.
Dr. Allen Naidoo, vice president for analytics at Carolinas HealthCare System, and Michael Hollenbeck, vice president of healthcare at Predixion, are attending HIMSS and available for interviews.
About Carolinas HealthCare System
Carolinas HealthCare System (carolinashealthcare.org), one of the nation's leading and most innovative healthcare organizations, provides a full spectrum of healthcare and wellness programs throughout North and South Carolina. Its diverse network of care locations includes academic medical centers, hospitals, freestanding emergency departments, physician practices, surgical and rehabilitation centers, home health agencies, nursing homes and behavioral health centers, as well as hospice and palliative care services. Carolinas HealthCare System works to enhance the overall health and wellbeing of its communities through high quality patient care, education and research programs, and numerous collaborative partnerships and initiatives.
About Predixion Software
Predixion Software is a disruptive predictive analytics software company with a unique focus on the development of portable predictive applications via its patent pending Machine Learning Semantic Model™ (MLSM) and the Last Mile of Analytics™ -- the deployment of powerful predictions to the people who need to act upon them. Predixion offers an easy-to-deploy self-service predictive analytics solution that allows customers to unlock deep insights within their data with technology that integrates with leading business intelligence platforms, business applications and clinical systems. Predixion has over 245 companies using Predixion Enterprise Insight in 63 countries. For more information visit us at www.predixionsoftware.com. Social media links: Twitter, Facebook, LinkedIn.
Predixion Software recognizes all of the trademarks referenced in this press release.