Today we reveal the third and final chapter of our saga, and I am sad to see it is coming to an end. Since we are a healthcare and blockchain company, the application of our existing product ConnectingCare requires a pretty solid understanding of Value-Based Care and Centers for Medicare and Medicaid Services (CMS). So naturally, I came up with this story about Elves and Goblins, and I think it conveys the point pretty well.

In our first story (read here) the Cobbler was freed from the Fee For Service Goblin by the Value Based Care Elf so he could focus more on outcomes in fixing people’s shoes. Anything below the cost of 25 coins for fixing a shoe, the Cobbler could keep.

In our second story, (read here) the Cobbler realized that in this model he could get massive savings but also massive penalties. Because fixing shoes starts with the Cobbler, the costs associated with others who fix shoes after him(the Tanner and the Seamstress) impacted whether the Cobbler had savings or penalties.

This is where our story continues…and where it ends happily for our dear Cobbler.

The Goblin, The Cobbler, and The Elf: Pt 3.

The Cobbler was terrified. He didn’t have a way of tracking the costs associated with how the Tanner and the Seamstress were fixing shoes and months passed in between when the Elf would tell him whether he had savings or penalties.

The Cobbler was at the local Tavern distraught, when suddenly a mysterious traveler arrived in town and sat next to him. After listening to his story, the Traveler said she had a way to help him: She could predict the costs associated with fixing each shoe, including what the Tanner and Seamstress spent.

“Are you magical?” The Cobbler asked?

“In a way.” The Traveler said with a twinkle in her eye. “Follow me.”

The Cobbler was curious so he followed the Traveler to the Tanner. The Traveler explained to the Tanner that she was going to help them all fix shoes better. All she would need is the records of each shoe which was fixed.

The Tanner laughed. He led them to a backroom where there was a mountain of records, notes, and recipients from shoes the Tanner had worked on.

“If you can make sense of any of this…be my guest.”

The Traveler was undaunted. “I will send for them shortly,” she said, losing none of the twinkle in her eye.

She then visited the Seamstress where the scene played out the same. Finally she went back to the Cobbler’s shop where he had his own mountain of records. The Traveler fetched all the records and brought them back to the Cobbler’s shop.

She set up a table and started to pull out all of these strange devices the Cobbler had never seen before.

“You are magical!” the Cobbler explained.

“I suppose I am in a way,” the Traveler explained. “Though my particular form of magic is called math.”

Break from Story

I would be amiss as a former history teacher if I didn’t mention that math was at times considered a form of sorcery and divination. That is all…

Story Continues

The Cobbler let the Traveler be. After several days she called the Cobbler to the room she had been working.

There were all kinds of strange graphs and charts on the walls. She explained that based on looking at how they all had fixed shoes she could accurately predict what the costs associated with fixing not only shoes in general, but each type of shoe.

She explained that going forward, she would follow each shoe as it was fixed . Upon hearing how the Tanner and the Seamstress planned to fix the shoe, she could report back to the Cobbler what the overall cost was likely to be, and record the date and time the shoes were fixed.

This would allow the Cobbler to learn not only whether or not he would have savings or penalties, but most importantly make sure each shoe was fixed right.

End of the Story.

I know its anti-climactic, but this where what we are doing is far cooler than any fantasy story.

When someone gets a hip replaced, they often have to go to a Skilled Nursing Facility or have Home Rehab. The problem with Value Based Care is that providers have to wait months to learn what these costs are. In truth, they never really find out what the costs are at other facilities, they just find out if they have savings or penalties.

What our product ConnectingCare does is three fold:

Algorithms and Machine Learning: We use algorithms to forecast the cost of the care based on claims data and then we use machine learning to improve these predictions over-time. This allows provider to know in near-real time whether they can anticipate savings or penalties. Care Coordination: Our platform also allows providers at different facilities to communicate. If a provider is seeing someone is staying longer at a Skilled Nursing Facility than is necessary, they can communicate directly with that facility in the platform. (Its EHR agnostic so it isn’t very complicated to use the platform). Immutable Audit Trail: We hash every note, update, access, procedure which the patient undergoes to the blockchain. This allows a secure audit trail for everything which the patient experienced.

It is important to realize here that while financials are important, they are merely a metric for measuring quality. If patients are getting the right care, there are less complications, patients get to go home as soon as they can, and the overall cost of the episode is low. If something goes wrong, or they simply stay at a nursing facility longer than necessary, the cost of care can increase.

We live in an amazing age where technology and math isn’t magic or fantasy, its reality. There is an amazing opportunity to utilize these tools in helping both patients and providers improve outcomes and lower costs in Value Based Care.

Our hope is that this is just the beginning of the ConnectingCare saga. Thank you for reading and visit our website to learn more: https://www.simplyvitalhealth.com/