Practical Analytic Approaches to Healthcare Challenges
Milliman’s MedInsight Health Waste Calculator – a leading analytic platform that provides actionable data around healthcare quality, efficiency, and effectiveness – was featured in Health Affairs’ third most-read article of 2017! The article, “Low-Cost, High-Volume Health Services Contribute The Most To Unnecessary Health Spending,” highlights the Commonwealth of Virginia’s use of the MedInsight Health Waste Calculator, which found more than $586 million in unnecessary costs in the Virginia All-Payer Claims Database.
Every year the healthcare industry wastes an estimated $750 billion. Milliman created the MedInsight Health Waste Calculator to root out low-value, wasteful services to help significantly reduce healthcare waste for payers, providers, APCDs, and other healthcare systems.
The Virginia Center for Health Innovation (VCHI), Virginia Health Information (VHI), and Value-Based Insurance Design (VBID) Health partnered with MedInsight to support Virginia’s statewide initiatives to identify and reduce low value, unnecessary medical tests and procedures in their healthcare systems. VCHI brought together Virginia’s leading health providers, payers, and employer groups to root out low-value care. Working with the VHI team, they used the MedInsight Health Waste Calculator to aid their measurement, monitoring, and reporting on services that provide no net health benefit.
The Health Affairs article outlines the forty-four low-value health services analyzed in the 2014 data, why they were so costly, and how the MedInsight Health Waste Calculator identified them.
To read full press release or download the full article click here. Institute of Medicine, Best Care at Lower Cost: The Path to Continuously Learning Health Care in America. National Academies Press, 2013.