Performance measurement service companies are gaining popularity among hospital and healthcare providers as CMS continues to drive value-based initiatives, Crain's Detroit Business reports.
CMS issued its final rule regarding the Medicare Access and CHIP Reauthorization Act Oct. 14. Under terms of the program, CMS will determine Medicare reimbursement to providers based on quality and performance metrics.
"Value is the new economy, and measurement is going to be the new currency," Craig McKasson, CFO of Premier, told Crain's. Premier is actively developing its healthcare performance-improvement technology and services. The company's performance services segment reported 19 percent revenue growth year-over-year in its fourth fiscal quarter 2016.
Performance services companies can include a wide variety of specialized interests, such as bundled payment management providers, data analytics firms and value-based payment firms, among others.
Even large healthcare organizations with sophisticated IT infrastructure and resources are looking for contractors to fill knowledge gaps, Advisory Board's Austin Weaver told Crain's.
"[Large systems] might not have a robust tool like a qualified clinical data registry that can ingest and organize information," Mr. Weaver said.