Raj Agarwal, President & CEO
Healthcare is undergoing profound transformation largely driven by shifting payment models. Industry executives, already under pressure to reduce costs, are entering into new risk-based and shared savings arrangements. The critical challenge is bending the cost curve while simultaneously improving quality and outcomes for patient populations.
Against this backdrop, healthcare organizations need solutions to manage high-risk populations better. Patients with chronic conditions are a top priority. According to Raj Agarwal, president and CEO of Medocity, chronic conditions drive over 80 percent of overall healthcare costs. These patients often have complex treatment plans and care needs. With limited support available at home, their compliance tends to wane, creating gaps in care. As a result, this can lead to potentially avoidable complications, ED visits and hospitalizations. Many of these high cost events can be eliminated by proactively engaging patients and connecting them with their care team.
Technological advancements enable providers to reach beyond the walls of the clinic and deliver care to patients at home or other non-face-to-face settings. Recognizing this trend, CIOs/ CXOs are actively evaluating technology options and seeking new approaches to proactively monitor, engage and support high-risk patients. Medocity helps solve this with its intuitive, user-friendly platform connecting patients and care teams virtually, using telehealth, remote patient monitoring, care coordination, and chronic condition management capabilities under one umbrella.
Medocity’s cloud-based enterprise software is modular, scalable and platform-agnostic; capable of running on web, iOS, or Android devices.
With remote monitoring tools, proprietary rules-based algorithms, and dynamic notifications, clinicians gain real-time visibility, enabling early detection and proactive intervention. “Our system monitors patient reported symptoms and vital signs, analyzes severity, and generates patient guidance,” says Agarwal.
“We also leverage AI to trigger high priority alerts, enabling care teams to proactively intervene before the patient’s situation deteriorates.” Using Medocity’s fully customizable template library, Care professionals can create logic-based assessments for specific chronic conditions such as cancer, CHF, COPD, diabetes and comorbidities. Medocity’s in-platform messaging, video visit and teleconferencing capabilities enable clinicians to interact among themselves or directly with patients. Logic-driven assessments are tailored for specific chronic conditions such as cancer, CHF, COPD and diabetes, including co-morbidities. And, Medocity’s standard library is fully customizable. Care professionals can directly interact with patients, or among themselves, through Medocity’s in-platform messaging, video-visit and teleconferencing capabilities.
Multi-disciplinary care teams, patients and caregivers benefit from Medocity’s comprehensive, flexible solution–making it both cost effective and efficient. “While several players in the telehealth space offer single-point solutions, we uniquely bring together multiple capabilities in one platform,” said Agarwal. “Clinician workflows can vary significantly,” Agarwal added, “and we have spent a significant amount of time and effort to make our system highly configurable and adaptable addressing the needs of the provider market.”
The evidence-based benefits of consistent, mutual engagement are striking. A recent landmark study using web-enabled tools, presented at ASCO 2017 by Dr. Ethan Basch, conclusively proves that proactive symptom monitoring of cancer patients extends survival and improves QoL. Medocity has an in-market solution to implement a similar program for any condition, including cancer. Additionally, providers can extend the program further, to directly intervene, coordinate care and empower patients in their self-care.
Regarding the company’s vision, Agarwal commented, “the digitization of patient care in non-clinical settings will soon become a common, preferred approach to managing high-risk patient populations.” Medocity is set on making virtual care both ubiquitous and affordable. Moving forward, extending its platform with deep learning and natural language processing, Medocity is leveraging IBM Watson to further increase engagement across all channels. The company is further expanding its clinical rules-based interventions to manage an even broader range of chronic and rare diseases. To that end, Medocity will continue breaking new ground through innovative technology-based solutions.