Banner Health Reduces IT Infrastructure Cost by 70% and Saves Over $4M With the Innovaccer Health Cloud
The leading health system is using the Innovaccer Health Cloud to unify patient data, simplify workflows, and support its population health management strategy for more than 1 million lives.
SAN FRANCISCO, March 25, 2021 (Newswire.com) - Banner Health, one of the top health systems in the country, has partnered with Innovaccer Inc., a leading healthcare technology company, to transform patient care and drive savings in its IT operating expenses. With the partnership, Banner achieved $4 million in savings from rationalizing various population health solutions with Innovaccer's comprehensive suite and a 70%% reduction in IT infrastructure cost by moving to a SaaS-based model.
Banner Health has more than 30 hospitals in its network, including three academic medical centers. The Phoenix, Arizona-based system grew rapidly over the past 20 years to become one of the nation's top five health systems, spread across six states with more than 50,000 employees.
Banner Health was struggling with the challenges of a distributed infrastructure. Banner Health Network and affiliate organizations have a variety of disconnected EHR systems, making it difficult to gain insights about the patients in the network.
Banner Health's transformation journey with Innovaccer started when the Banner team realized its clinical infrastructure was not scaling to meet its changing needs amid the COVID-19 pandemic. Within five weeks, Innovaccer ingested, cleaned, and normalized Banner Health's clinical, financial, supply chain, and administrative data in its Data Activation Platform. The highly actionable reports covered the on-hand supply of PPE, medication inventories, lists of patients in need of pre-procedural COVID-19 testing, and more key metrics. More than 400 operational leaders across 30 Banner Health hospitals logged into these dashboards daily to stay on top of their responses to COVID-19.
With the Innovaccer Health Cloud, Banner Health created a 360-degree view of all data related to cost, utilization, risk, and quality. Innovaccer then consolidated the primary care provider and care coordination staff applications with one unified patient record. The result was a common view and consistent data, which became the single source of truth. Banner Health will also leverage the Innovaccer Health Cloud as a single enterprise data fabric.
Innovaccer's Data Activation Platform assists Banner Health with predictive modeling by providing intuitive data features and AI models, allowing data scientists to see unified data, blinded or not, and build their models rapidly on Innovaccer's data science workbench.
With the Innovaccer Health Cloud, Banner Health has achieved true transparency of metrics to strengthen negotiations on value-based performance incentives with payers, automated processes to reduce turnaround time and effort for staff in chasing care gaps, recapturing codes, and avoiding unnecessary utilization, and saved over $4 million per year in value-based care tools and licenses.
"When we first approached Innovaccer, we were looking for a digital hub to manage our COVID-19 response efforts. We quickly realized that Innovaccer could provide the connective fabric for our overall digital transformation strategy. We are now using the Innovaccer Health Cloud to unify patient data across multiple systems, simplify workflows across teams, and support our population health management strategy for more than one million lives. With Innovaccer's solution, we are not only transforming patient care, but also driving significant savings in our IT operating expenses," says Julie F. Smith, Vice President of Enterprise Data Management at Banner Health.
"Transforming the future of healthcare is a monumental task—much bigger than any one company could achieve on its own," said Abhinav Shashank, CEO at Innovaccer. "The good news is, we've got a strong foundation to build on and an ecosystem of customers, partners, and innovators who are already taking on the challenge. Banner Health has long been at the forefront of building the future of the connected enterprise. Our aim is to support Banner Health's mission, keep achieving such great outcomes, and build the future of health together."
To know more about the success story of Banner Health with the Innovaccer Health Cloud, read the case study here.
About Banner Health
Headquartered in Arizona, Banner Health is one of the largest nonprofit health care systems in the country. The system owns and operates 29 acute-care hospitals, Banner Health Network, Banner — University Medicine, academic and employed physician groups, long-term care centers, outpatient surgery centers and an array of other services; including Banner Urgent Care, family clinics, home care, and hospice services, pharmacies and a nursing registry. Banner Health is in six states: Arizona, California, Colorado, Nebraska, Nevada, and Wyoming.
For more information, visit www.BannerHealth.com.
Innovaccer Inc. is a leading San Francisco-based healthcare technology company committed to helping healthcare care as one. The company is recognized as a Best in KLAS vendor for 2021 in Population Health Management and #1 customer-rated vendor by Blackbook. Using its Data Activation Platform, Innovaccer unifies patient records and leverages artificial intelligence and analytics to automate routine workflows and facilitate whole-person care. Its solutions have been deployed across more than 1,000 locations in the U.S., enabling more than 37,000 providers to transform care delivery and work collaboratively with payers, employers, and life sciences companies. By using the connected care framework, Innovaccer has helped healthcare organizations unify records for more than 24 million people and generate more than $600 million in savings for the healthcare ecosystem.
For more information, please visit innovaccer.com.
Source: Innovaccer Inc.
Categories: Healthcare Technology