Steven will take on the responsibility for leading your organization in it's growth journey and ensure that you achieve the desired outcomes.
Steven is a leader who is highly organized and will effectively collaborate with teams across the organization.
He possesses a deep understanding of the healthcare market, customer needs, has an aptitude for problem-solving, and the ability to strategize and implement his plans.
He will be the critical driver of success in your organization.
Steven’s unique skillsets enable him to shape organizational growth strategies, maximize returns and ultimately surpass all growth and revenue goals.
He has a record of leveraging information, data, technologies, relationships, and customer insights to develop comprehensive plans and manage multiple facets of an organization’s growth strategy.
Steven will surely play a vital role in the success of your company.
This case study is a demonstration of the expertise shown in launching a new, innovative Virtual Remote Monitoring and Management Program to improve the clinical and economic outcomes of individuals with diagnosed diabetes. This study showcases the real-world results achieved in bringing a new innovative solution and value based contracting strategy to market.
Health systems are constantly faced with finding a solution to manage the high cost, high burden populations of individuals with chronic conditions including cardiovascular, chronic kidney, diabetes, and respiratory diseases.
As managed care, pay for performance and self-funded insurance continues to expand, leaders across the healthcare ecosystem are looking for ways to improve care, reduce costs and minimize clinical demand for the populations they serve.
As a business we were faced with not having the clinical studies and/or economic value proposition that highlighted what would be achieved with the new and innovative solution we were launching.
According to Fierce Healthcare in 2019, aggregate annual costs of leading chronic medical conditions are approximately $1.1 trillion due to expenses from hospital care, physician visits, pharmaceuticals, medical devices, and home care.
Two staggering statistics on the cost to treat one chronic condition diabetes are highlighted below ~
The Diabetes Research Foundation states that 10.5% of the 2020 US population had diabetes. For a health system managing 100,000 at risk patients there will be 10,500 individuals with diabetes. If each of these patients incurred an additional $9,601 to manage their care the total annual expenditures attributed to diabetes would be $100,810,500.
A comprehensive program was created to assist health systems better manage the daily activities and virtual care of individuals with diabetes. An application-based patient facing solution was utilized to collect patient inputs, data from wearable & Bluetooth enabled devices, and medical information from previously recorded patient histories. Artificial intelligence, virtual coaching & care, and an automated way to deliver relevant & timely information to patients on demand was utilized. We introduced this solution to large integrated delivery networks in the United States. These system leaders all expressed an interest using this solution within at-risk populations being managed.
With precise targeting we quickly identified institutions who were managing large groups of at-risk populations. A strategic plan was developed to communicate the clinical problems, quality of care issues and financial impact uncontrolled diabetes was having on their system.
A Challenge, Impact and Solution talk track and presentation tools were developed. Strategic account team members were trained on how to communicate the right message. Timely meetings with executive leaders were scheduled.
Initial consultations were held, needs analysis were conducted, recommended solutions were presented and contract negotiations followed. Because of the lack of clinical and economic data being requested by clients, we decided to develop a value-based contracting approach that offset the customer risk that they would face by implementing a new, unproven solution. This contracting strategy did however speed up the decision timeline and add additional value to our organization by significantly increasing the total revenue that would be received with a successful program.
This value based approach was received well by the three initial healthcare system partners we engaged with, and contracts were put in place for over $3.6 Million in annual recurring revenue. With expansion to 50 new health systems, annual recurring revenue would exceed $60 Million a year.