As Medicare cracks down on hospitals for excessive readmissions, administrators are looking for ways to predict whether patients will recover or will be back in the hospital.
Predictive health analytics is a rapidly growing market with many options and technicalities. Many EHRs offer predictive analytics tools on an individual level, but the big game is in wide-scale healthcare analytics to predict trends in addition to individual patient analysis.
New companies are building on the data available from electronic records and non-clinical information. Here are five new and up-and-coming companies to watch.
1. 4D Healthware
Chicago-based online subscription service 4D Healthware uses predictive analytics at a much closer level than Epic's patient data analysis, making health information available to patients in a digestible, manageable way. It collects data from EMRs and from wearable medical devices to one location, streamlining it into an interface readable for patients, and is operable across multiple platforms. 4D subscriptions are also covered under chronic care management and eligible for physician reimbursement as well, according to ChicagoInno.
2. Jvion
The Atlanta-based health technology company launched a software-as-a-service model to provide data analysis to providers on a scale ranging from patient to population. Jvion does not run out of a data warehouse, which makes the program less expensive to implement, but rather an on-demand software service. The developers designed it around algorithms that include pre-seeded solutions, taking the variables of a patient's situation and categorizing it into the most likely predicted outcome. Unlike other data analytics companies, it targets individual illnesses and diseases, reducing the time it takes to implement the program and runs on algorithms to streamline it. Jvion received the 2014 Intel Innovation Award for its technology.
3. Revolution Analytics
Although Revolution Analytics has been around since 2007, Microsoft announced Jan. 23 that it would purchase the company for its "R" programming language. R is a popular language for statisticians, and Revolution Analytics programs "closely" to the language for better results, according to CRN.com. The software Revolution Analytics is a prominent voice in the community of R language developers. Its main program works with enormous quantities of data by delivering a program that communicates efficiently with data warehouses. The company also offers advisory services with R experts who can determine the best service for the predictive analytics service a customer is looking for. Microsoft's purchase of the company will likely see the language implemented on many of its software products, which also provide predictive analysis.
4. RightCare
Philadelphia-based RightCare provides software that analyzes patient data to help hospitals reduce readmissions. The software analyzes patient information and provides a score based on risks indicating how likely a patient is to be readmitted. It then connects patients with post-acute care providers based on their preferences. It is separate from EHR software but can be implemented into an existing system without any additional hardware. In September 2014, RightCare also introduced a content tool in partnership with Emmi Solutions, a patient engagement tool company, for patients to view and manage their own data.
5. VitreosHealth
Named the "Most Promising Population Health Analytics Company" at the HealthTech conference in October 2014, VitreosHealth takes a financial approach to predictive analytics. Using its population health software advisory tool, VitreosHealth offers a risk profile for populations based on data aggregated from EMRs, claims and non-clinical data and provides recommendations to improve outcomes and reduce costs. It is connected to ACO priorities and organizes the data into a chart interface, readable for physicians as well as analysts. The system incorporates with VitreosHealth's analytics suite.