Healthcare data can yield a goldmine of savings if you have the right tools. Recently High Line Health used its patented Lumineer tool to identify over $750,000 in potential savings on MRI scans for a customer with 140,000 members. The average savings potential was about $500 per scan.
By identifying various radiology payment bundles and evaluating both hospital and stand-alone facilities, High Line Health determined baseline pricing for procedures and existing utilization trends. With this type of analysis, Health Funds can consider benefit design plans that promote more efficient network providers.
Advanced analytics are essential in finding cost savings opportunities. The same basic MRI may vary by more than $1,000 per scan depending on the facility. This variance can be even greater in other procedures such as joint replacements, colonoscopies and endoscopies. Lumineer allows a deep dive into procedure payments while also ensuring member access to care.
High Line Health is a New York City-based healthcare data analytics company offering agile reporting solutions to employers, payers and providers. For more information on how to generate savings for your Health Fund and while maintaining access for your members, please visit www.highlinehealth.comor reach out to High Line Health at firstname.lastname@example.org.