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HEALTHCARE AI LEADER CLOSEDLOOP LAUNCHES TWO FIRST-OF-THEIR-KIND DATA SCIENCE PRODUCTS FOR VALUE-BASED CARE
New ClosedLoop solutions, ACO-Predict and Evaluate, leverage award-winning technology to target and measure real-world impact of healthcare programs
ClosedLoop, a leading healthcare data science platform serving providers, accountable care organizations (ACOs), payers, pharma, and digital health companies, today announced the launch of two new data science solutions designed to help healthcare organizations analyze, evaluate, monitor, and refine their own programs to mitigate adverse events, improve health outcomes, and reduce unnecessary costs: ACO-Predict and Evaluate.
Award Winning AI-Powered Risk Stratification - Free For All Medicare ACOs
The first new product launching is ClosedLoop’s ACO-Predict, the industry’s first free solution for AI-powered population health risk stratification. ACO-Predict offers the same algorithms ClosedLoop used to win the CMS AI Challenge in 2021, and the Best in KLAS Healthcare AI ranking in 2022 and 2023. When combined with CMS’s recently updated Beneficiary Claims Data API (BCDA) data feeds, ACO-Predict provides turnkey risk stratification for Complex Care Management (CCM) programs free of charge to all Medicare ACOs.
Complex Care Management programs are one of the essential tools ACOs use to reduce costs and improve outcomes in their Medicare populations. Increased accuracy in predicting avoidable adverse events can lead to drastic improvements in the overall impact and return on investment for these programs. ClosedLoop’s AI algorithms have demonstrated an increased accuracy of 41% compared to legacy risk scores and blackbox “groupers” traditionally used by value based care organizations to identify high risk patients. The solution can be live in as little as a few hours and requires no IT integration as data flows directly from CMS via the BCDA data feed.
ACO-Predict also includes paid tiers that support non-Medicare populations, additional data feeds, increased explainability, and additional program targeting including transitions of care and specialist referrals.
Program Evaluation as a Service
The second product announced today is ClosedLoop Evaluate, a first-of-its kind SaaS solution to rigorously assess and monitor the impact of complex population health programs over time. The impact and return on investment for Population Health programs can be extremely difficult to quantify, leaving organizations to rely on inaccurate “pre / post” analyses or expensive consulting firms to execute point-in-time Outcomes Research studies to understand the impact of their programs. ClosedLoop Evaluate is the industry’s first SaaS solution to not only replace these studies with software, but also allow for continuous monitoring of program impact as programs and populations change over time.
“ClosedLoop provided the quantitative evidence we needed to increase investment in successful programs,” said Jen Zbell, VP of Clinical Analytics at Healthfirst. “Evaluate gives us the confidence to examine our programs across the board so we can better see what’s working, when it’s working, and who it’s working for.”
To date, Evaluate has been piloted by payers and providers managing more than 2.7 million members across the country.
Predict the Future - So You Can Change It
ClosedLoop’s ACO-Predict and Evaluate have been designed to work together to help improve outcomes for healthcare organizations and the patients they serve.
“To succeed in value based care, organizations need to do two things,” said Andrew Eye, Co-Founder and CEO of ClosedLoop. “They need to be able to predict the future, and they need to be able to change it. With ACO-Predict we are bringing AI-powered prediction to every Medicare patient in the country. We’re proud to be able to offer this solution free of charge ensuring those patients that need help get it, regardless of where they live or the limited resources their local ACO may have. And with Evaluate we are arming population health teams with data and rigorous analysis to demonstrate the impact their programs are having both clinically and financially - even as those programs evolve over time.”
ClosedLoop is accelerating AI’s ability to improve health. With technology that is purpose-built for healthcare, ClosedLoop combines data science automation with a comprehensive healthcare content library, both designed to bring an agile approach to the development of AI powered machine learning models. Winner of the CMS AI Health Outcomes Challenge and named Best in KLAS for Healthcare Artificial Intelligence: Data Science Solutions in 2022 and 2023, ClosedLoop is headquartered in Austin, Texas.