CHICAGO--(BUSINESS WIRE)--PinpointCare, a bundled payment and care coordination technology company, today announced it has secured a total of $11M for its enterprise solution from private investors and existing customers.
PinpointCare offers a care coordination technology solution used by purveyors of bundled payments to connect and unite each patient episode with the provider’s entire acute and post-acute network. A secure, SaaS platform engineered for speed and designed for simplicity, it is integrated to deliver easy, personalized care planning, monitoring, and communication.
The bundled payment model, one of the industry reforms included in the Affordable Care Act, is intended to help care providers cut waste, become more financially accountable and address the need for better patient care coordination. It reflects the transition that is shifting from “fee-for-service” to “pay-for-performance.”
PinpointCare Chief Executive Officer Joel Splan says, “The recent announcement by the Centers for Medicare & Medicaid Services (CMS) requiring hospitals in 75 markets to participate in its Comprehensive Care for Joint Replacement Model (CCJR) has created a financial incentive for good patient care coordination, underscoring the timeliness and importance of our solution. With more than 800 hospitals facing this challenge, PinpointCare is ready with the only proven, fully automated platform in this space to help them manage this challenge right now.”
In 2014, PinpointCare developed a platform with bundled services for orthopedic procedures. The platform has been deployed by the Illinois Bone & Joint Institute for over a year and because of its success in lowering readmissions and reducing costs, has been cited by CMS as one of the most successful examples of its pilot program (Bundled Payment for Care Improvement). This same platform is now being used successfully by 66 customers and is poised for more aggressive growth as the shift to value based care accelerates.
PinpointCare’s technology differs from other, more costly, labor-intensive approaches to bundled payments because it is a web-based platform that functions like a simple app-as-a-service technology. Its solution is physician-led and administered at the point of care, significantly reducing the need for redundant outsourced call centers and other costly add-ons.
“It eliminates long and complicated projects with easy implementations, zero infrastructure footprint, and significant speed-to-value, while putting the entire PAC network in the hands of each care team member,” says Adam Hoffman, Chief Technology Officer of PinpointCare.
"Our software enables organizations to have a far higher care manager to patient ratio,” adds Splan. “By eliminating the call-center middleman, our customers keep their intellectual and financial capital, while maintaining clinical touch with the patient, and ultimately the control over their outcome data.”
About Pinpoint www.pinpointcare.com
PinpointCare is a next generation, Platform-as-a-Service application that streamlines care coordination for hospitals, physician groups, post-acute care providers, and patients. Anchored by configurable Care Plans, it enables each care team user to communicate with one another in real-time to holistically address the shift to value-based care. Although developed initially as a tool to simplify bundled payments for Orthopedic procedures (hip and knees), it is highly scalable to deliver personalized Care Plans for Oncology, Cardiology and others episodic conditions. The platform is engineered to configure easily for chronic care plans as well. PinpointCare powered one of the five best-performing participants in the CMS Bundled Care Payments Initiative, reducing risk and costs while lowering readmissions and generating additional revenue. PinpointCare has been praised for its unique approach to bundled payments, reducing costly back-office partners, labor intensive call centers and unnecessary infrastructure, replacing them with a provider-led, low price and automated plug-and play application that operates intuitively with the simplicity of a browser giving complete control to the user.
