SpectraMedix – Changing the healthcare value and quality equation in North America and throughout the world through applied analytics

In today’s performance driven healthcare landscape, the path to quality improvement begins with clinical data. SpectraMedix partners with your healthcare organization to transform real-time and retrospective data into measureable clinical and financial results. Its tailored clinical analytics solutions provide actionable information that makes it easy for your organization to begin and accelerate quality improvement initiatives, increase revenues and maximize incentives for the range of performance-based Centers for Medicare & Medicaid Services (CMS) programs. In 2012, SpectraMedix was selected as one of eight companies for the inaugural class of the New York Digital Health Accelerator Program and named BEST Healthcare/IT Company 2012 at the New Jersey Technology Council (NJTC) Venture Conference.

At the Forefront of Value-Based Care Transformation

The challenge for health plans in value-driven healthcare is how to best manage today's ever-changing reality while shaping tomorrow's possibility. It's not easy.  They know how to help. Their team understands the nuances of the health plan market in the value-based payment landscape. They create cloud-based analytics applications to help you transform the way healthcare operates in today's value-centric environment. They have created the SpectraMedix VBP Platform to advance your VBP agenda across the overlapping cost, quality, utilization, attribution, and risk management priorities in healthcare.

This integrated suite provides:

• VBP contract creation and implementation that enables you to drive win/win relationships with your providers.
• VBP analytics to uncover new trends and opportunities for quality and financial improvement.
• Cohort management to align your network around specific member populations.
• Easy-to-use portals and dashboards that arm your team and network with the actionable intelligence they need.
• Support for all lines of business, including Medicare, Medicare Advantage, Medicaid, Commercial, and Privately Insured.

The SpectraMedix Platform

It is scalable, integrated, and secure with HIPAA compliant and 400+ measures. It's the foundation for all SpectraMedix performance analytics solutions. The SpectraMedix Platform is the cornerstone of all applications and solutions. It's built to shine in the data-intensive, high availability, secure world of risk-centric, value-based healthcare performance analytics and population health management. The SpectraMedix Platform is deployed and hosted within a USA-based Azure data center. This is a highly secure hosting environment which boasts world-class scalability, extensibility, and high availability. Master Data Management (MDM) delivers a consistent point of reference for various data used across multiple systems. Identity data and reference are regularly updated and maintained in the MDM reference database. The MDM reference database also maintains FHIR terminologies and value sets required for performance measurement calculation. Working in concert with MDM, the SpectraMedix EMPI is a data structure that uses proprietary deterministic and probabilistic matching algorithms to ensure accurate medical data from across disparate organizations and data sources are aligned and used across SpectraMedix applications. The Spectramedix Platform includes an Interface Engine that connects to EHR Systems, HL7 Interfaces, HIEs, and FHIR based interfaces. FHIR based interfaces connect via proprietary APIs across many different data formats such as json, xml, x12. It supports multiple protocols like https, FTPS, SFTP, WebServices (SOAP & REST). The interface engine provides a web-based dashboard with message logging, data encryption, and auditing capabilities.

The Spectramedix Platform uses a configuration-based approach for all applications. This reduces deployment time and increases system reliability. User Management, measure and care gap interventions, and program or measure configuration are just a few of the key features. Also included is an administration and management framework which provides IT Administrators with a single viewpoint concerning various processes, interfaces, and jobs. This functionality promotes application stability and quality. SpectraMedix has an extensive library of prebuilt quality, processes and outcomes measures. Their HEDIS measures are certified by NCQA and the electronic clinical quality measure (eCQM) module has received Certified Electronic Health Record Technology status from ONC. They also provide a measure authoring tool for rapid configuration of custom measures. pectraMedix uses NLP to extract information from unstructured text, which today accounts for more than half of healthcare data. This data is used to address issues around incomplete, dirty or missing data by mining data from sources such as notes within EHRs, and is subsequently used to improve care. This type of processing is of particular importance as Social Determinants of Health (SDoH) information is used to provide improved patient care. Patient attribution is a key operation in the VBP world. The SpectraMedix Platform provides retrospective and prospective attribution models. These are used in payer/ACO/provider arrangements and address the provider risk pool, medical loss ratios, shared savings and losses, and funds or penalty allocation.

Raj Lakhanpal, MD | Founder and CEO, Member, MITA Governance

SpectraMedix was founded by Raj Lakhanpal, MD. An entrepreneur and healthcare business executive, Dr. Lakhanpal brings proven experience developing business models and data analytics solutions to SpectraMedix. Previously he founded HealthAtoZ, a top online wellness, and population health management platform with deep analytics capabilities that assisted Health Plans and their Fortune 500 clients to reduce and manage their healthcare costs. HealthAtoZ was acquired by OptumHealth, a division of UnitedHealth Group in 2006. Dr. Lakhanpal is on the Board of Trustees of the University of the Sciences in Philadelphia. A former emergency physician, he is a Fellow of the American College of Emergency Physicians in the United States and a Fellow of the Royal College of Physicians and Surgeons in the United Kingdom. He is a Lifetime Member of the American Association of Physicians of Indian Origin (AAPI) and founding President of TiE NJ-Philadelphia, a not-for-profit organization that fosters entrepreneurship across the globe. He recently completed a two-year term on the HIMSS Value-Based workgroup. He currently is a member of the Medicaid Information Technology Architecture governance board.

"We believe that actionable analytics across the healthcare network can dramatically bend the cost-quality equation and lead to better patient outcomes with a lower cost of care."