Print Page   |   Contact Us   |   Your Cart   |   Sign In   |   Join DMI
Site Search
dmi:Design Value Award Winner - 3M Design
Share |

dmi:Design Value Award Winner

 

 

 

3M Design, Business Development, Technology, Marketing, Consulting Services

3M™ Performance Matrix: Increasing Efficiencies in the Healthcare System

 

In 2017, the cost of health care in the U.S. was $3.5 trillion. To put that into perspective, the entire U.S. GDP of that same year was $20 trillion. Approximately 30 percent of these costs can be attributed to waste that stems from avoidable sources like operational inefficiencies, over-treatment, failures of care coordination and medical errors. However, every healthcare delivery network has rich data that can help healthcare providers identify opportunities to bring down those preventable costs without harming patients or reducing the quality of care. 

At 3M, believe that data analytics and performance management solutions can put data to work to help healthcare organizations identify and prioritize their most pressing issues. These actionable analytics could also minimize workflow disruptions, allowing providers to save time and focus their resources on what’s most important—optimizing care delivery for their patients. 

To accomplish this, 3M teams across business, technology and design worked together to gather insights to understand how consultants and clients use their existing tools, services, information and communication channels. The team identified journey phases and intersecting pain points and corresponding behaviors to inform the first release of the software.

That software is the 3M™ Performance Matrix platform, a data analytics and performance management solution that combines 3M Health Information Systems’ proven methodologies and performance measures with the data processing power of Verily, an Alphabet company. This single system simultaneously analyzes patient management performance throughout an organization’s network, across all visits, episodes of care and disease cohorts.

Rather than having to employ teams of data analysts, the 3M system can mine the enriched data to help healthcare systems identify and prioritize key problem areas. This technology delivers meaningful information that can be used to promote real and sustainable improvements in healthcare quality and cost. 

The insights into performance improvement opportunities are validated by leveraging benchmarks that have been risk-adjusted, which takes into account variation in populations and conditions. Validated opportunities are prioritized based on the mutual agreement of all stakeholders and the ongoing monitoring and performance feedback makes long-term transformation possible. 

To create the financial value of the platform, the 3M team analyzed Medicare data from hundreds of health systems using the 3M Performance Matrix Platform. From just 10 systems, the team identified more than $1 billion in potential cost savings opportunities, including reduction in complications, readmissions, ER visits and a higher continuity of care. Healthcare providers touch the lives of everyone from clinicians and staff to patients and communities. The 3M Performance Matrix platform helps them to deliver on their mission and magnify their impact.

 

  
See All The 2019 Design Value Award Winners

Featured Members

Site Search
Membership Software Powered by YourMembership  ::  Legal