Will Reduce Medicare Costs in Maryland by at least $35 Million
Columbia, MD, August 6, 2019 – LifeSpan Network, the leading post-acute care provider association in Maryland, and Real Time Medical Systems, announce the formation of a skilled nursing facility (SNF) network that, through the use of Real Time Medical Systems’ interventional analytics software, will cater to the needs of health systems, insurers, ACOs and other organizations to improve quality of care and reduce hospitalizations.
The network will cover the entire state and link all the skilled nursing centers, and their electronic health record systems, into a single care management platform. Health systems and insurers, for the first time ever, will be able to see and compare the outcome results from each SNF and sort the data by time, diagnoses, length of stay, acuity, etc. In addition, case managers will be able to see real-time data as to which patients are at highest risk of a hospital admission and allow collaborative and immediate intervention.
A reduction of SNF related hospitalizations by 50% would yield at least a $35 million annual Medicare cost reduction in Maryland. This would be a boon to the preservation of the Maryland Medicare Waiver.
The partnership intends to make this real-time interventional capability available to insurers that will then feature the participating facilities. This combines great care, improved outcomes, and enhanced consumer transparency.
“LifeSpan Network is committed to improving quality in Maryland’s skilled nursing facilities. As Maryland continues to redesign its health care delivery system through the Total Cost of Care Model, this partnership is an example of an innovative approach focused on ensuring that residents receive the highest standard of care while at the same time reducing unnecessary costs within the health care system,” said LifeSpan CEO Kevin Heffner.
“Real Time is thrilled to partner with the State’s skilled nursing facilities to coordinate data and link directly to health systems and insurers. This new system of integration will provide unprecedented opportunities for health systems, skilled nursing facilities, and others to more effectively and efficiently work together,” said Joan Neuscheler, CEO of Real Time Medical Systems.
About LifeSpan Network
Lifespan Network is the leading post-acute care provider association in Maryland, representing more than 330 senior care providers in Maryland and the District of Columbia. LifeSpan’s membership includes skilled nursing facilities, assisted living communities, continuing care retirement communities, subsidized senior housing, community-based and hospital-based programs. Providers and professionals involved in senior care in Maryland and the District of Columbia turn to LifeSpan Network to learn about the latest legislation and trends in senior care, participate in educational and peer-to-peer networking opportunities, and engage in programs to save money and run a more efficient organization. For more information, please visit www.lifespan-network.org.
About Real Time Medical Systems
Real Time Medical Systems is the leading healthcare interventional analytics company helping to improve the patient care continuum by connecting long-term care facilities, hospitals, ACOs, payers, and affiliated providers in building an integrated preferred care network. Empowering a proactive approach to patient centered care, Real Time’s interventional analytics platform decision support tools lower the cost of care, reduce unnecessary hospital readmissions, and ensure facilities receive proper reimbursement for the amount of care provided. Operating in 800 facilities, including over 80 organizations in Maryland, and monitoring nearly 100,000 lives – Real Time continues to ensure patient-centered care is at the forefront for its clients. For more information, please visit www.realtimemed.com.
Kevin Heffner, CEO
Joan Neuscheler, CEO
Real Time Medical Systems