New Capabilities Help Hospitals Optimize Clinical Spend, Manage Variation
Chicago, IL, June 23, 2020 – Lumere, Inc., a GHX company, today announced newly expanded physician-level analytics capabilities as part of its Category Optimization solution. The integrated solution provides analysis of physician-level utilization of medical devices, enabling clinical and administrative leaders to better identify variation among device selection and make evidence-based decisions to balance the cost and quality of care delivered.
Lumere’s Category Optimization solution organizes and classifies more than 45 physician preference item categories across more than eight service lines, including spine, cardiac services, neurology, orthopedics, other surgical services and nursing. The solution compares clinically and functionally similar products based on evidence and data, uncovering savings and opportunities to improve outcomes.
Lumere’s physician-level analytics are backed by the company’s deep knowledge of medical devices and comprehensive research library. Lumere provides solutions to improve clinical collaboration, accelerate strategic sourcing initiatives and measure and monitor financial impacts.
“While COVID-19 has put significant financial pressure on hospitals, it has also created more strategic and lasting partnerships between supply chain and clinicians,” said Bonnie Lai, PhD, vice president, product & operations, Lumere. “Physician-level analytics help supply chain professionals provide the data needed to support conversations around device selection, use and managing unwarranted variation. This supports greater collaboration between clinical and administrative teams, allowing them to maintain a patient first approach, while optimizing clinical costs.”
Physician-level Analytics: Leveraging Evidence-based Procedure Analysis + Outcomes Data
Physician-level analytics help healthcare organizations analyze the cost of medical devices for a given procedure, down to the individual physician and case level.
- Physician utilization analyses provide data for a specific category or group of medical devices, identifying specific stakeholders to engage in spend initiatives.
- Procedure cost-per-case analyses identify cost drivers and variation in device use by a physician down to the case level, and whether the evidence supports that variation.
- Outcomes analyses help healthcare organizations determine if their outcomes data aligns with evidence, as well as how outcomes affect key financial metrics.
- Physician impact analyses show financial impact of a physician changing their device utilization patterns.
- Lumere’s solution currently analyzes more than 100 procedures across eight procedure areas and will continue to expand its library of procedure cohorts.
- Procedure analysis data includes total device cost per case for a given procedure and physician utilization of medical devices (individually and as compared to functionally similar products).
- Analyses can be segmented by facility, procedure, vendor, product type and product brand.
- Physician-level analytics map overall device utilization to outcomes data, including length of stay, OR time/cut-to-close, readmissions, as well as surgical site infection.
- To date, more than 60 hospitals across the U.S. have employed Lumere’s physician-level analytics.
According to Gartner, "supply chain leaders must determine, and invest in, the tools and resources that will arm physicians with the right information to make evidence-based and informed decisions. Medical device selection decisions that are made using incomplete or potentially biased information can increase risks to patient safety and/or care quality."
Gartner, "Invest in Supply Chain’s Alignment With Physicians to Improve Patient Care and Reduce Cost", Andrew Knight, Eric O'Daffer, 24 October 2019.
Lumere, a GHX company, is at the forefront of clinical decision making for medical devices and drugs. A leading provider of evidence-based data and analytics solutions, Lumere is helping healthcare organizations build clinically integrated supply chains and optimize medication formulary management. For more information, visit lumere.com, find us on LinkedIn and follow @LumereHQ on Twitter.
Building on decades of collaboration between providers, manufacturers, distributors and other industry stakeholders, Global Healthcare Exchange, LLC (GHX) is leading the charge in helping organizations run the new business of healthcare. By automating key business processes and translating evidence-based analytics and data into meaningful action, GHX is helping the healthcare ecosystem to move faster, operate more intelligently and achieve greater outcomes. With the support of GHX, healthcare organizations have removed billions of dollars of wasteful healthcare spend. For more information on GHX’s suite of world-class, cloud-based supply chain and pharmacy solutions, visit www.ghx.com and The Healthcare Hub.