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Investor Newsletter December 2021
Author
Joshua Harris
Author
Justin Long
Monthly overview of recent KLAS insights, upcoming reports, and industry happenings.
From the KLASroom
A Guide to Health at Home
In the wake of COVID-19, health at home is growing in popularity as provider organizations seek to deliver high-quality, lower-cost patient care while minimizing the health risks associated with the hospital environment. To this end, organizations have begun offering acute care services at home, in addition to existing post–acute care options. The technology, supplies, services, and staffing needed for health at home can be quite complex, and the many interdependent pieces may be adopted à la carte or as a comprehensive offering. To help provider organizations better understand this dynamic market, the health at home white paper establishes a health at home framework and answers key questions about what provider organizations may want to consider for their own health at home strategies. While KLAS’ customer satisfaction research for health at home is emerging, we have existing data for areas like home health, hospice, and private duty/personal care.
Graphic is from the Health at Home White Paper 2021. Click here to read the white paper.
How Will KLAS Continue to Measure Health at Home Vendors?
KLAS intends to monitor the evolution of the health at home market and publish future content highlighting the various vendors’ strengths and weaknesses. KLAS already measures customer satisfaction with home health, hospice, long-term care, and private duty solutions and is currently collecting customer perceptions regarding remote patient monitoring solutions and organizations’ future plans to implement services for acute hospital care at home (findings are expected to be published in early 2022).
Segment Highlight—Telehealth
Telehealth is here to stay. Areas where organizations are seeing the most adoption include behavioral health, telemedicine specialties (stroke and psychiatry among others), and post-visit/post-surgery follow-up. Many larger healthcare organizations use multiple solutions as part of their virtual care strategies. KLAS has validated that 25% of healthcare organizations are considering whether the telehealth solution implemented during the pandemic will be their go-forward, long-term solution. Interestingly, as organizations look to solidify their virtual care strategies, Remote Patient Monitoring (RPM) and the way these solutions fit into the overall virtual plan are being strongly considered. The market has seen a lot of consolidation in both the telehealth and RPM spaces, and KLAS anticipates this consolidation trend will continue as healthcare organizations look to deploy their virtual strategies.
Chart is from the Telehealth Performance 2020 report. Click here to read the report.
The KLASifieds
KLAS Emerging Technology
Each week, dozens of new companies are knocking on the doors of provider organizations and health systems to present their latest innovative solutions. KLAS publishes 50–60 individual reports annually that provide early performance data on these solutions designated as emerging, disruptive, or innovative. To access the KLAS Emerging Technology report library, contact our team at investorservices@klasresearch.com.
Recent Emerging Technology Report Sneak Peek
Imprivata
First Look Report 2021
The increased use of shared smart devices in healthcare has revealed the difficulty and manual intensity that healthcare organizations face in systematically securing, managing, maintaining, and deploying smart devices at scale while ensuring adoption and ease of use for end users. The Imprivata Mobile solutions—which include GroundControl (for iOS) and Mobile Device Access (for Android)—are designed to help. This report examines the customer experience with these solutions.
Laudio
Emerging Technology Spotlight Report 2021
Laudio’s continuous performance management platform provides frontline healthcare leadership with real-time support for personalized engagement between managers and team members. Laudio takes engagement insights from existing data sources to detect turnover risk and identify opportunities for employee engagement that drive job satisfaction, reduce burnout and turnover, improve employee satisfaction, and impact quality, safety, and patient experiences. This spotlight aims to capture Laudio’s performance and ability to deliver for initial customers.
Specialty Reports Published November/December 2021
KLAS publishes 70–80 specialty reports annually that provide insights into market trends, vendor performance, and/or key issues within specific segments or categories. To access the KLAS Specialty report library, contact our team at investorservices@klasresearch.com.
Healthcare Services 2021 (A Decision Insights Report)
Since November 2020, KLAS has collected insights regarding 349 decisions by 245 healthcare organizations to engage a services firm. This report offers a first, high-level look at services decisions specifically. The types of services with the highest decision energy in the last year include HIT staffing, HIT advisory services, HIT implementation leadership (small), and technical services. Ongoing insights on services decisions will be available on the KLAS website in the first half of 2022, and as this research continues over time, data on individual markets and firms will grow more representative.
Patient Experience Improvement 2021:
Increased Consumerism Driving Need for Customized, Real-Time Feedback
Provider organizations’ efforts to improve the patient experience have typically relied on standardized, retrospective benchmarking data (predominantly from the CMS-regulated CAHPS survey). However, to really amplify the voice of the patient and meet the rising demands of healthcare consumerism, organizations also need customizable tools that allow them to respond to patient feedback in real time and quickly identify service-recovery options. This report examines the opportunity that exists for the industry to augment a CAHPS-centric approach with more customizable capabilities.
Upcoming KLAS Specialty & Emerging Technology Reports
Comprehensive Ambulatory 2021:Â
What to Expect from a Single Source
Looking to improve integration and reduce vendor complexity, ambulatory organizations have recently accelerated efforts to consolidate their technology solutions. However, their EMR vendor’s portfolio may have gaps or may not stack up in certain areas to the specialized functionality of best-of-breed solutions. To help organizations determine whether a consolidated IT approach is best for them, KLAS conducted in-depth interviews with ambulatory organizations that have broadly and deeply adopted their EMR vendor’s technology portfolio. These customers’ feedback reveals what technology is adopted today, where gaps still exist, and what benefits and potential pitfalls other organizations may want to consider as they move toward consolidation.
Drug Diversion Monitoring 2021:
Energy High for Next-Generation Solutions
In the last 12 months, KLAS has interviewed 41 healthcare organizations that have recently purchased a drug diversion monitoring solution or are in the process of doing so. This represents a sharp increase in market activity. Several factors are fueling the growth, including greater awareness of the opioid crisis as well as a greater need during the COVID-19 pandemic for visibility into medication inventories. Additionally, organizations are considering several newer technology options purported to offer more intuitive workflows and more complete investigational tools. This report examines recent and upcoming drug diversion monitoring purchase decisions to determine which vendors are generating the highest interest.
European Digital Pathology 2021:
Adoption Grows for Primary Diagnosis
Use of digital pathology for primary diagnosis has seen a rapid increase recently in both interest and adoption thanks to benefits like improved efficiency and remote reading/telepathology capabilities (see KLAS’ 2019 report). The COVID-19 pandemic has spurred even greater consideration of remote-reading options, and some organizations are looking to digital pathology to mitigate anticipated pathologist shortages in the future. Overall, Europe has seen the greatest adoption of digital pathology. For this report, KLAS interviewed pathology groups across 15 European countries who are live with digital pathology for primary diagnosis. The following pages share performance insights on Philips, Sectra, and Tribun Health—the market leaders in considerations and live customers for digital pathology image management systems (IMS).
Patient Access 2021:
How Well Do Enterprise EMR Vendors Meet Organization Needs?
Due to the ever-increasing complexity of revenue cycle management, organizations have historically had to supplement patient access functionality from their enterprise EMR vendor with third-party revenue cycle vendors. But with the push toward software consolidation, organizations would like their enterprise EMR vendors to further develop patient access capabilities and better meet customers’ growing needs. This report examines the patient access offerings of enterprise EMR vendors†Cerner, Epic, and MEDITECH and shares customers’ perception of how well positioned these vendors are to deliver functionality currently provided by third parties.
†KLAS was unable to interview a sufficient number of Sunrise Financial Manager customers to include data for Allscripts’ patient access offering.
Cognizant Healthcare BPaaS:
First Look 2021
Business process as a service (BPaaS) is a new delivery method for core payer claims and administration solutions that can lighten administrative burdens and increase health plans’ efficiency. Cognizant began offering BPaaS about two years ago (previously offered business management services [BMS] and business process outsourcing [BPO]). Today they have the largest presence in this space, and they actively encourage BPaaS adoption. For this report, KLAS performed in-depth interviews with five organizations using Cognizant’s Healthcare BPaaS model for Facets and QNXT (both acquired from TriZetto).
DeliverHealth Ambulatory Services (MIST):Â
First Look 2021
Healthcare organizations often seek to simplify their IT processes by eliminating productivity barriers and lessening physicians’ documentation burdens. To aid organizations in streamlining their processes, DeliverHealth (formerly MIST) provides industry expertise and customizable EMR consulting and advisory services. This report is a first look at the DeliverHealth client experience.
DeliverHealth Gemini:
Emerging Technology Spotlight 2021
More and more healthcare organizations are looking to engage patients throughout their healthcare experience. DeliverHealth’s Gemini—a digital front door solution—is intended to improve the patient experience while minimizing pain points that can arise. This report seeks to validate early adopters’ experience with Gemini.
Everbridge:
First Look 2021
Everbridge is a market share leader in the critical alert management and mass communications spaces. Enabling healthcare organizations to assess risk, locate impacted people, act rapidly, and analyze outcomes for improvement opportunities, platforms like Everbridge’s are essential for healthcare organizations’ emergency preparedness programs and strategies. This report highlights healthcare providers’ experiences with and usage of the Everbridge platform for emergency preparedness and other mass communications needs.
Gozio Health:
Emerging Technology Spotlight 2021
Gozio Health offers a solution to help patients not only locate healthcare locations and services but also consolidate and access multiple tools that are used to engage patients in their care. As the landscape of patient-facing engagement tools becomes more fragmented, solutions like Gozio have the potential to simplify and improve the overall patient experience. In this spotlight report, KLAS will validate the use cases, experiences, and speed to outcomes of Gozio Health’s customers.
Hayes Management MDaudit:Â
First Look 2021
Healthcare organizations are under pressure on many fronts, including their financial viability. Amid this pressure, revenue optimization, integrity, and total compliance are crucial. MDaudit from Hayes addresses these concerns in a single platform to unify multiple RCM teams. The solution addresses key areas such as continuous risk monitoring, anomaly detection, and workflow automation.
To make a purchase or find more information on KLAS reports, contact the KLAS Investment Advisory team at investorservices@klasresearch.com.
Market Activities Impacting Investments
Apple AirPods as Healthcare Device
Apple’s ambition to add health and wellness features to devices beyond the Apple Watch, where most of the company’s health functions exist today, demonstrate its commitment to adding health and wellness services to its portfolio.
Bad Data, Bad Analytics, Bad Decisions
A new survey of healthcare executives finds underlying data issues still plague analytics and decision-making. Leaders are continuing to face challenges in collecting, normalizing, analyzing, and using data to make timely clinical decisions.
CVS Wants to Enter Primary Care Markets
CVS will join Walgreens and Walmart in pursuing the primary care market to compete with healthcare networks and private clinics.
Deloitte Delivers Study on What Makes Innovation Programs Successful
By analyzing companies that reported high growth and leading innovation capabilities, they were able to unearth key insights into how corporate innovation succeeds today. This study demonstrates how companies are moving beyond the innovation buzzword toward a new and improved understanding of the state of corporate innovation programs.
Healthcare Consumers Turn to the Internet for Care Options
Word of mouth healthcare testimonials are being replaced by the internet when consumers make their healthcare decisions. A new consumer survey from Kyruus provides insights into this trend and supports provider and payer focus on patient engagement.
Hospital at Home Advocacy Group Emerges
11 health systems have joined the coalition, which aims to extend and expand the existing federal hospital-at-home waivers and create an advanced acute care-at-home delivery model at the Center for Medicare & Medicaid Innovation.
'Tis the Season
As we celebrate the holiday season and draw closer to the conclusion of another year, we hope 2021 has been a positive and profitable year for you and your teams. From our team to yours, thank you for trusting KLAS to meet your healthcare research and diligence needs. We wish you a safe and merry holiday season with family and friends, and an inspiring New Year. See you in 2022!
To request additional information, please contact the KLAS Investment Advisory team at investorservices@klasresearch.com
Designer
Natalie Jamison
Project Manager
Joel Sanchez
This material is copyrighted. Any organization gaining unauthorized access to this report will be liable to compensate KLAS for the full retail price. Please see the KLAS DATA USE POLICY for information regarding use of this report. © 2024 KLAS Research, LLC. All Rights Reserved. NOTE: Performance scores may change significantly when including newly interviewed provider organizations, especially when added to a smaller sample size like in emerging markets with a small number of live clients. The findings presented are not meant to be conclusive data for an entire client base.