24 |July 2019|
Biome provides the ability to the hospitals and doctors to
seamlessly align around how to , eliminating expensive
guesswork around what specific actions will move the cost
needle, and providing clinicians the tool they need to show
exactly when care variation is necessary
Why Biome?
- Intelligent Variation
Biome has procedure-specific performance models that
seamlessly integrate hospital cost accounting and
clinical data. Its algorithm-based performance
assessment engine detects high-value clinical and
financial opportunities for clients. Biome delivers a
community-driven performance library, containing
clinical and financial benchmarks, models, and
performance improvement strategies. - Cardiovascular Focus and Expertise
Biome’s applications enable hospitals to increase
contribution margins throughout the cardiovascular
service line. Clients rely on Biome’s experience to
evaluate the impact of evolving therapies, identify
vendor opportunities, and quicken time to value. Some
recent client successes include: - $2 million cost savings opportunities identified within
60 days - Average TAVR LOS reduced by 3 days
- Net-new 164 bed opening availability
- $1.7 million in cost misallocation identified
- Observed vs. Expected Mortality Decreased by 35.7%
- A Delivery Model Built for Speed and Quality
While analytic applications largely focus on IT
departments as the primary user, Biome focuses on
delivering analytic capabilities to the physicians and
administrators, without requiring users to become data
scientists. Additionally, Biome manages the full
engagement- from requesting and collecting data, to
creating the models, to delivering the insights. Users
can ask questions and get answers in record time.
Finally, with access to a library of over 200+
cardiovascular-specific analytics, clients can explore a
myriad of improvement opportunities in seconds,
instead of waiting for weeks for the internal teams to
create a new analytic.
Biome’s Unique Solution
Biome offers an end-to-end solution for cardiovascular
performance management; over 200 cardiovascular-specific
analytics that drives the insight into actionable root-cause
performance improvement opportunities. Analytic access is
provided to users via Tableau visualizations, and Biome’s
engagement team highlights high-value opportunities,
besides delivering insights into performance change
management progress. Biome approaches engagements
with the philosophy that analytics should augment the work
of cardiovascular teams, not replace physicians’ decision-
making autonomy. Biome provides the analytics that allows
physicians to understand the cost impacts of decisions and
the case studies and change management methodologies for
affecting performance improvement at client facilities.
Biome delivers performance bench-marking so that
cardiovascular teams can measure progress both internally
and against other cardiovascular centers.Advice to Digital Health Entrepreneurs
Today, as healthcare decision-making becomes much more
nuanced and complex, Biome advises the budding
entrepreneurs in this field to stay focused and have an
unwavering vision. The company believes that healthcare
is a ‘team sport’ and each participant in the industry,
whether an entrepreneur, clinician, administrator, or patient,
rely on the others to achieve success. It also believes that
collaboration and communication are crucial to a successful
team and these capabilities bind the team with motivation
and positive approach.Looking Forward
Biome’s distinctiveness is a breakthrough value-add for
cardiovascular teams providing noticeable clinical and
financial impact. Clients have appreciated the company’s
responsive services and analytic solutions. Talking about
the accolades received by the company so far, Stuart
asserts, “Our happy clients are our greatest award—when
we see the success that they achieve as a result of our
solution, we are motivated to develop even more models to
improve cardiovascular performance.”Biome Analytics is focused on developing solution modules
in cardiovascular-related clinical areas such as stroke,
vascular, and neurology and is planning to roll these out to
all clients this year.