Northfield-based Medline Industries and Real Time Medical Systems announced a partnership to expand its 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.
The platform 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 hospital referral partners, Real Times offers a diagnosis view of readmission causes. On average, customers see an improvement of billing accuracy yielding an increase of up to $15 per day for their Medicare patients.
"Our customers are required to do more with less. As we continue to leverage our position as a medical supply chain partner, we're always looking for solutions that can help customers solve their biggest financial and clinical problems," says Dave Jacobs, executive vice president of Medline's post-acute care sales division. "Real Time empowers providers to be innovative and forward-thinking in their approach to resident care."