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Healthcare Cost Containment Initiative

Healthcare Cost Containment Initiative. Medical Analysis and Research Services. The Medical Analysis and Research Services Over 50 years combined experience in health care Access to a dedicated Medical Director Medical policy RN’s on staff Minimally invasive unique solutions Proven results.

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Healthcare Cost Containment Initiative

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  1. Healthcare Cost Containment Initiative Medical Analysis and Research Services

  2. The Medical Analysis and Research Services • Over 50 years combined experience in health care • Access to a dedicated Medical Director • Medical policy RN’s on staff • Minimally invasive unique solutions • Proven results

  3. The Medical Analysis and Research Services (MARS) Mission: • To identify and implement effective operational practices to control costs. • Advancements are continually made in health care treatment but no significant progress has been made in organizational operations until now. • To provide analytical solutions to address the new needs for higher quality health care services • Very little time or attention is spent performing post-validation of expenditures leading to overspent revenues for supplies due to the expected prohibitive labor costs. • To achieve better health outcomes, promote continuous technological improvement • Key performance indicator (KPI) tools are needed at all levels of health care to identify negative trends before they affect the cost of service delivery. MARS will help begin realizing immediate cost containment and long-term solutions.

  4. Cost Savings: • Estimated cost savings of over $233M in the first year • Estimated cost savings of over $2.5B at the end of the 5 year contract – 24% per year • US Federal grants under ARRA cover 90% of the project cost • Full implementation expected within 6 months • Provider assistance in developing savings initiatives

  5. Analysis: • Extensive reporting capabilities • Monthly and Quarterly reports • Access to MARS analysts and clinical staff • Epidemiology for chronic conditions • Process auditing and project management

  6. Framework: • Healthcare Analytics • Data integration & usage • Provider Onboarding • Patient Onboarding • EHR

  7. Leadership: • Audits and Controls • Data Availability • Unique Solutions • Sustainable Healthcare • Transparency

  8. Trust: • Availability of Data • Noticeable Changes • Better Outreach • Decreased duplication in services • Engagement and Follow up

  9. Patient Benefits: • Increased participation in their care • Improved quality and convenience • Education • Engagement in the process • Quicker health issues resolution

  10. Case Study: • Decrease from 18.2% to 12.6% in one year – 5.8% decrease • $3B Supply budget - $174M cost savings • Financial and Clinical cooperative environment • New supply cost contracting opportunities • Additional bundling cost savings opportunities

  11. Conclusion: • Estimated cost savings of over $2.5B at the end of the 5 year contract – 24% per year • Extensive monthly and quarterly reporting capabilities • Data integration & usage • Sustainable Healthcare • Case Study - $174M cost savings in one year

  12. Next Steps

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