Collaboration Improves Healthcare Access, Equity, Quality and Savings Optimization for Value-Based Contracts
SpectraMedix, a leading value-based contract analytics and provider enablement platform for health plans and health systems, announced today a strategic partnership with Foresight Health Solutions, a pioneer in AI-driven social determinants of health (SDoH) risk management and health equity analytics. A significant advancement in the industry, this partnership will offer unparalleled capabilities to care providers and health plans in predicting comprehensive health risks using SDoH and health disparity data. This partnership will accelerate the understanding of what is driving cost and outcomes for vulnerable populations, enabling organizations to achieve greater success in value-based care.
SpectraMedix’s best-in-class technology enables health plans and health systems to analyze financial, quality, risk, utilization, and health equity information to understand value-based contract performance and identify opportunities for improvement. Foresight Health adds expertise in AI-enabled analysis of SDoH and care management data for risk identification, and to accurately pinpoint care interventions that would be most impactful in mitigating risks. The integration will provide a more complete picture of root-cause cost and health factors, improving healthcare access, equity, quality and savings across business lines to optimize value-based contracts and help providers deliver better, more informed care.
“Our partnership brings additional transparency around how social determinants of health impact risk, quality and shared savings for vulnerable populations such as Medicaid and Medicare,” said SpectraMedix CEO Raj Lakhanpal, MD. “Empowering organizations with the right information at the right time to understand both medical and non-medical drivers of quality, risk and utilization is a gamechanger for value-based contract success.”
“Our integration with SpectraMedix brings SDoH and care management data analytics and value-based payment analytics together in a way that mutually reinforce each other,” said Ashish Abraham, CEO of Foresight Health Solutions. “Together, we provide deep insights that enhance the effectiveness and ROI of care delivery—ultimately improving the health of individuals and populations.”
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