Global Research & Consulting Firm Commends Optum’s Success in Addressing Diverse Value-based Care Needs in the PHM Market
Optum, the health services and innovation business unit of UnitedHealth Group, has earned Frost & Sullivan’s Company of the Year Award for the population health management (PHM) market. While more than 100 health care IT companies comprise the U.S. population health management market today, most serve only specific PHM segments. Optum serves all category participants ranging from health care providers to commercial health plans and was chosen as best-in-class for its robust analytics, preferred PHM vendor status, financial performance and best practices for health plans, care providers and other stakeholders.
Based on its recent analysis of the population health management (PHM) market, Frost & Sullivan noted that Optum excels in offering PHM solutions for both health care provider and health plan organizations. Best-in-class companies “address not only present PHM needs, but also direct their efforts to constantly evolve to cater to market transformation. They offer secure, interoperable, and highly customized solutions that monitor, predict, and manage patient conditions across the continuum of care,” according to a recent Frost & Sullivan report, available online.
“Optum provides superior connectivity and a HIPAA-compliant care coordination infrastructure that connects with all major care providers, regardless of their underlying technology platforms,” said Frost & Sullivan Industry Analyst Koustav Chatterjee. “Since its care coordination technology is cloud-based, care providers enjoy unmatched scalability and receive the benefits of periodic upgrades.”
At the same time, many commercial insurers are devising consumer-centric health plans that provide incentives for preventive, value-based care while ensuring business success, according to Frost & Sullivan. “Optum ensures that every payer organization is effectively assessing industry transformation and re-engineering business propositions in accordance with the changing healthcare landscape,” the report noted.
Frost & Sullivan also found that Optum solutions support organizations across the PHM value chain. For example, Optum’s data and analytics capabilities provide insight to define populations, identify gaps in care, stratify risk, engage patients, manage care and measure outcomes. Optum soon will be launching a managed services model for analytics and population health (Managed Value and Risk Analytics) that will combine its data, technology, advisory services, and global operations to partner with care providers and health plans to help them exceed performance criteria under value-based reimbursement contracts.
Finalists for the Company of the Year Award were judged on their ability to be recognized as a leader not only in their industry, but among non-industry peers as well, the report said. It requires a company to demonstrate excellence in growth, innovation, and leadership.
“Optum, while participating in a contested market, has created a demand for its technologies and services. The company is equally versed to draw evidence from payers, providers, employers and consumers. Its holistic healthcare approach is highly receptive to progressive healthcare entities that are transitioning to various risk or value-based healthcare ecosystems,” the report noted.
Each year, Frost & Sullivan presents this award to the company that has demonstrated superiority in devising and implementing a strong growth strategy. Recipients have shown strength in terms of innovation in products and technologies, leadership in customer value, as well as speed in response to market needs. In short, the award looks at the emerging participants in the industry and recognises their best practices that position them for future growth.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
Optum (optum.com) is a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone. With more than 115,000 people worldwide, Optum delivers intelligent, integrated solutions that help to modernize the health system and improve overall population health. Optum is part of UnitedHealth Group.
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