Category Archives: News

March 4, 2019

Real Time Medical Systems Raises $10M to Accelerate Growth with Health Systems and ACOs

Healthcare interventional analytics company connects hospitals with nursing homes, reducing unnecessary hospital readmissions by up to 60%

Baltimore, MD – Real Time Medical Systems (RTMS), a healthcare interventional analytics company serving health systems, nursing homes, insurers, and ACO’s today announced the completion of a $10M equity funding round. The round was led by SunBridge Capital Management and included other healthcare and technology investors including TCP Venture Capital. The funds will be used to fund growth in sales, marketing, technology, and personnel.“We are thrilled to have the trust of well-respected investors with significant health care experience as we continue our rapid growth,” said Scott Rifkin, M.D., Founder and Executive Chairman of Real Time Medical Systems. “Before Real Time, health systems were dependent on data that was as much as a year old. Real Time provides both the hospital and the nursing home with immediate, actionable data directly from the patient’s electronic health record that results in better care and outcomes for the patient, and better financial performance for both the hospital and the skilled nursing facility.”Real Time Medical Systems was advised by boutique investment banking firm SC&H Capital (Ellicott City, MD) and the legal team of Holland & Knight LLP (Stamford, CT).

About Real Time Medical Systems
Real Time Medical Systems’ software leverages data sourced directly from a skilled nursing facility’s existing EHR software and synthesizes the information into actionable prompts and dashboards. These clear, data-driven analytical insights enable health systems to proactively improve patient outcomes and reduce readmissions from their skilled nursing network. Real Time also delivers interventional insights to clinical decision makers and care providers at skilled nursing facilities, ensuring quality care improvements and appropriate reimbursement for the care provided.

Real Time was founded in 2011 by Dr. Scott Rifkin, who currently serves as Executive Chairman. The company is led by an experienced management team including CEO Joan Neuscheler, Chief Business Development Officer Gene Huang, and Chief Sales and Marketing Officer Ellsworth Harris. The company has grown by over 250% in the last fiscal year and services over 500 health systems and skilled nursing facilities in 30+ states. For more information, visit realtimemed.com.

Media Contact:
Tom Ainsley
Ainsley & Co.
410.299.0122
tom@ainsleyagency.com

New York-based nursing home investing in new solutions that will improve resident care and enhance staff efficiencies

Medline and Bishop Rehabilitation and Nursing Center today announced a new partnership that will bring greater quality of care to residents and enhance operational efficiencies for facility staff.

Through this agreement, Medline will provide Bishop Rehabilitation and Nursing Center a portfolio of products and value-added programs to maximize quality assurance and performance improvement (QAPI) efforts. In particular, the facility will utilize the abaqis® Quality Management System, a complete quality management system with core components that manage survey readiness and QAPI, helping facilities better comply with regulations. Under CMS’ new Requirements of Participation, providers were expected to complete a facility assessment to identify the resources needed to provide care and services to its residents. Providigm, the company behind abaqis, created a facility assessment tool in abaqis to help take the guesswork out of the assessment process and create an automated process for aggregating resident data.

Additionally, Bishop Rehabilitation and Nursing Center will leverage Real Time Medical Systems, a simple application that sits on top of a facility’s EMR. The technology extracts up to 150 clinical data elements on every resident, several times per day, to provide a live view a patient’s present conditions. Real Time’s new patent-pending acuity monitor will enable staff to understand which patients are at higher risk for hospital readmissions, giving Bishop Rehabilitation and Nursing Center insight needed to respond and direct care before it becomes a readmission…

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Source: Healthcare Finance

Vernon Manor and Manchester Manor deployed software on top of its EHR to analyze clinical data fields and recommend interventions

Rather than stay in the paper-based environment common to many skilled nursing facilities, Liistro’s facilities are moving forward into what he sees as the future of long-term care.

For two years now, Liistro has been using Real Time Medical Systems, which has been expanding its presence thanks to a partnership with healthcare distributor Medline Industries. Essentially a platform that sits on top of a facility’s electronic medical record, Real Time analyzes 150 clinical data fields, provides recommended interventions and consolidates the data into a single report. It gives the two Connecticut facilities a fresh report each day at 12:01.

Now, Liistro and his staff don’t have to wait until the EMR’s minimum data set pinpoints a trend that’s happening. That has improved clinical quality, which in turn has resulted in fewer patients being readmitted to a local hospital.

“That is a metric that is problematic, because it’s very expensive for the federal government,” said Liistro. “It’s problematic for us and the industry because the government is now creating a program where they penalize us for readmissions, and that starts in 2018. So you have to look for solutions that are going to help you avoid those things. If you’re lowering the readmissions rate, you’re starting to do things better.”

The two facilities have also been able to improve their patients’ lengths of stay. In Connecticut, the average length of stay for a patient in a skilled nursing facility is…

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Providers to benefit from data mining software with improved resident outcomes

Northfield, Ill., Oct. 3, 2017 – To decrease hospital readmissions from skilled nursing facilities, Medline Industries and Real Time Medical Systems today announced a partnership to expand the data mining software’s presence in the long-term care market.

Medicare is withholding more than $500 million in payments in fiscal 2017 under its readmissions reduction program, $100 million more than last year. As reimbursement gets tighter, hospitals look to skilled nursing partners to identify changes in resident condition as they happen to help reduce hospitalizations. Real Time Medical Systems has brought its platform, Real Time™, to market to help facilities react in real time to changes in resident daily living.

“Providers must be able to monitor real time data and use it in ways to improve outcomes that hospital systems are looking at,” says Scott Rifkin, M.D., founder of the Real Time platform and also co-founder of Mid-Atlantic Health Care, an east coast skilled nursing home chain. As a provider, he experienced the limitations of real time monitoring with traditional EMRs and created Real Time to help facilities improve resident care and increase revenue growth opportunities. “We wanted to know data when it was new and fresh enough to intervene in the healthcare of a patient. We looked at every EMR out there and just could not get real time data in ways that we could use it to address the daily changes in resident conditions.”

The platform, an application that sits on top of a facility’s EMR, analyzes 150 clinical data fields, provides recommended interventions to guide facilities and consolidates the data into a single report. Knowing that benchmarking on quality and outcomes is vital to…

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Reducing Hospital Readmissions: Bringing Real Time Clinical Data Monitoring to Skilled Nursing Facilities.

NORTHFIELD, Ill.–(BUSINESS WIRE)–To decrease hospital readmissions from skilled nursing facilities, Medline Industries and Real Time Medical Systems today announced a partnership to expand the data mining software’s presence in the long-term care market.

“Providers must be able to monitor real time data and use it in ways to improve outcomes that hospital systems are looking at,” says Scott Rifkin, M.D., founder of the Real Time platform and also co-founder of Mid-Atlantic Health Care, an east coast skilled nursing home chain. As a provider, he experienced the limitations of real time monitoring with traditional EMRs and created Real Time to help facilities improve resident care and increase revenue growth opportunities. “We wanted to know data when it was new and fresh enough to intervene in the healthcare of a patient. We looked at every EMR out there and just could not get real time data in ways that we could use it to address the daily changes in resident conditions.”

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Long-Term Care Hospital (LTCH) Quality Reporting (QRP)

What is the Long-Term Care Hospital (LTCH) Quality Reporting Program (QRP)?

The purpose of this page is to provide users with important announcements and updates regarding the LTCH QRP. This page is updated periodically whenever an important update needs to be communicated to LTCH providers regarding the LTCH QRP. Please refer to this page when seeking information on upcoming trainings, approaching data submission deadlines, updates to training materials or measures, reminders, and other useful communications.

The LTCH QRP, mandated by Section 3004(a) of the Patient Protection and Affordable Care Act of 2010, creates LTCH quality reporting requirements. Every year, by October 1, we publish the quality measures LTCHs must report. Section 3004(a) of the Affordable Care Act (ACA) amends section 1886(m)(5) of the Social Security Act(SSA) to direct the Secretary to establish quality reporting requirements for long-term care hospitals (LTCHs).

The Improving Medicare Post-Acute Care Transformation Act of 2014 (the IMPACT Act), LTCHs also requires LTCHs to submit standardized patient assessment data with regard to quality measures, resource use, and other measures. It further specifies that the data [elements] “… be standardized and interoperable so as to allow for the exchange of such data among such post-acute care providers and other providers and the use by such providers of such data that has been so exchanged, including by using common standards and definitions in order to provide access to longitudinal information for such providers to facilitate coordinated care and improved Medicare beneficiary outcomes …”.

Learn more about Affordable Care Act (ACA) Section 3004 (Quality Reporting for Long-Term Care Hospitals (LTCH), Inpatient Rehabilitation Facilities (IRF), and Hospice Programs). Please note the link below for P.L. Public Law No: 111-148, the Patient Protection and Affordable Care Act (H.R.3590 Health Care Law). https://www.gpo.gov/fdsys/pkg/PLAW-111publ148/pdf/PLAW-111publ148.pdf

Learn more about the Improving Medicare Post-acute Care Transformation (IMPACT) Act of 2014 which requires the submission of standardized data by Long-Term Care Hospitals (LTCHs), Skilled Nursing Facilities (SNFs), Home Health Agencies (HHAs) and Inpatient Rehabilitation Facilities (IRFs). https://www.gpo.gov/fdsys/pkg/PLAW-113publ185/pdf/PLAW-113publ185.pdf

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Data Mining Software Strikes Gold

Mid-Atlantic Health Care creates Gold-winning system – McKnight’s Long Term Care News

LIVE EMR data with applied clinical analytics will drive all payer readmission rates to new lows.  Contactus@rtmsmail.com to learn more.

http://mobile.journals.lww.com/lww-medicalcare/_layouts/oaks.journals.mobile/articleviewer.aspx?year=2015&issue=07000&article=00004