SpectraMedix Selected as a Preferred Vendor by ACAP
- June 11, 2019
The proven data aggregation, actionable analytics, and risk-modeling capabilities of
The SpectraMedix Platform™ for value-based care align with efforts of the ACAP to support
Medicaid, Medicare and other public health coverage programs.
East Windsor, NJ [June 11, 2019] – SpectraMedix, a leader in healthcare payer and provider analytics and business intelligence, announced today that it has been selected by the Association for Community Affiliated Plans (ACAP) as a Preferred Vendor to support ACAP-member plans.
Sponsored by L.A. Care Health Plan
SpectraMedix was sponsored by its client and ACAP member, L.A. Care Health Plan (L.A. Care), the nation’s largest publicly operated plan. Preferred vendors must be sponsored by a member and approved by the ACAP board. The SpectraMedix Platform™ has assisted L.A. Care in producing tens of millions of dollars in cost savings for L.A. County clinicians through fewer hospitalizations, improved care coordination, and better patient engagement. SpectraMedix is also the leading technology vendor serving the New York State DSRIP Medicaid Transformation Program.
SpectraMedix was selected by L.A. Care to develop a practice-level data analytics solution to support 3,200 clinicians and their beneficiaries. L.A. Care, the recipient of a four-year grant via the CMS Transforming Clinical Practice Initiative program (TCPI), is exceeding most program targets for numerous diabetes and depression related clinical measures.
Statement by L.A. Care Executive Director of HIT
“L.A. Care was pleased to sponsor SpectraMedix into ACAP’s Preferred Vendor Program,” said Mary Franz, Executive Director of HIT for L.A. Care. “We’ve worked with SpectraMedix for over three years. The ability of their platform to manage large amounts of data and present back meaningful insights has been a key contributor to the success our TCPI clinicians have had improving health outcomes.”
Offering a comprehensive VBC Platform
As a Preferred Vendor, SpectraMedix offers ACAP members a comprehensive value-based care (VBC) platform that supports a wide range of population health and payment models to improve quality, lower costs, and improve customer experience. The data aggregation, patient matching, drill-down analytics, and risk-modeling capabilities of The SpectraMedix Platform™ ensure payers and their network providers have access to the right data, at the right time to:
- Close care gaps
- Tie measure and care gaps to incentives
- Generate quality report cards tied to financial incentives
- Create what-if models for value-based payment pre- and post-contract modeling
- Manage all VBC arrangements
ACAP is a national trade association which represents not-for-profit Safety Net Health Plans. Collectively, ACAP plans serve more than twenty million enrollees, representing nearly half of all individuals enrolled in Medicaid managed care plans. Its mission is to strengthen not-for-profit Safety Net Health Plans in their work to improve the health of lower-income and vulnerable populations.
Statement by SpectraMedix CEO
“We’re excited to be a part of the journey of ACAP members as they transition to value-based care, also known as fee-for-value,” Raj Lakhanpal, MD, CEO of SpectraMedix. “For VBC to work as intended, health plans, intermediaries, providers, non-clinical entities, and patients must work in a shared, collaborative environment. The actionable analytic capabilities that The SpectraMedix Platform™ provides are the foundation of this.”
ACAP represents 64 Safety Net Health Plans, which provide health coverage to more than 20 million people in 29 states. Safety Net Health Plans serve their members through Medicaid, Medicare, the Children’s Health Insurance Program (CHIP), the Marketplace and other publicly-sponsored health programs. For more information, visit www.communityplans.net.
About L. A. Care
L. A. Care is the nation’s largest publicly operated health plan. With more than 2 million members and 3,200 clinicians L. A. Care’s mission is to provide access to quality health care for Los Angeles County’s vulnerable and low-income communities and residents and to support the safety net required to achieve that purpose. Visit www.lacare.org
609-336-7733 Ext. 308