SpectraMedix Selected as a Preferred Vendor by ACAP

EAST WINDSOR, N.J. - June 13, 2019 - PRLog -- SpectraMedix, a leader in healthcare payer and provider analytics and business intelligence, announced today that it has been selected by the Association for Community Affiliated Plans (ACAP) as a Preferred Vendor to support ACAP-member plans.

SpectraMedix was sponsored by its client and ACAP member, L.A. Care Health Plan (L.A. Care), the nation's largest publicly operated plan. Preferred vendors must be sponsored by a member and approved by the ACAP board. The SpectraMedix Platform™ has assisted L.A. Care in producing tens of millions of dollars in cost savings for L.A. County clinicians through fewer hospitalizations, improved care coordination, and better patient engagement. SpectraMedix is also the leading technology vendor serving the New York State DSRIP Medicaid Transformation Program.

SpectraMedix was selected by L.A. Care to develop a practice-level data analytics solution to support 3,200 clinicians and their beneficiaries. L.A. Care, the recipient of a four-year grant via the CMS Transforming Clinical Practice Initiative program (TCPI), is exceeding most program targets for numerous diabetes and depression related clinical measures.

"L.A. Care was pleased to sponsor SpectraMedix into ACAP's Preferred Vendor Program," said Mary Franz, Executive Director of HIT for L.A. Care. "We've worked with SpectraMedix for over three years. The ability of their platform to manage large amounts of data and present back meaningful insights has been a key contributor to the success our TCPI clinicians have had improving health outcomes."

As a Preferred Vendor, SpectraMedix offers ACAP members a comprehensive value-based care (VBC) platform that supports a wide range of population health and payment models to improve quality, lower costs, and improve customer experience. The data aggregation, patient matching, drill-down analytics, and risk-modeling capabilities of The SpectraMedix Platform™ensure payers and their network providers have access to the right data, at the right time to:

• Close care gaps
• Tie measure and care gaps to incentives
• Generate quality report cards tied to financial incentives
• Create what-if models for value-based payment pre- and post-contract modeling
• Manage all VBC arrangements

ACAP is a national trade association which represents not-for-profit Safety Net Health Plans. Collectively, ACAP plans serve more than twenty million enrollees, representing nearly half of all individuals enrolled in Medicaid managed care plans. Its mission is to strengthen not-for-profit Safety Net Health Plans in their work to improve the health of lower-income and vulnerable populations.

"We're excited to be a part of the journey of ACAP members as they transition to value-based care, also known as fee-for-value," Raj Lakhanpal, MD, CEO of SpectraMedix. "For VBC to work as intended, health plans, intermediaries, providers, non-clinical entities, and patients must work in a shared, collaborative environment. The actionable analytic capabilities that The SpectraMedix Platform™ provides are the foundation of this."

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About SpectraMedix
SpectraMedix helps healthcare payers and providers make the most of the journey to fee-for-value. Our SpectraMedix Platform™ ensures they have access to the right data, at the right time, to succeed in the range of value-based arrangements. The Platform's advanced data aggregation, analytics, and performance improvement solutions provide healthcare organizations care gap resolution, financial incentive quantification & forecasting, prospective risk analysis, contract analytics and an Enterprise Master Patient Index delivered in a secure, cloud-based environment. Its data integration capabilities include real-time EHR interfaces, including FHIR, and APIs can be leveraged to import data directly from EMR systems on-demand and in real-time. SpectraMedix is among the top vendors for Medicaid reform initiatives in New York State and is the engine behind L.A. Care Health Plan's multimillion-dollar California Medicaid practice transformation project.

About ACAP
ACAP represents 64 Safety Net Health Plans, which provide health coverage to more than 20 million people in 29 states. Safety Net Health Plans serve their members through Medicaid, Medicare, the Children's Health Insurance Program (CHIP), the Marketplace and other publicly-sponsored health programs. For more information, visit www.communityplans.net.

About L. A. Care
L.A. Care is the nation's largest publicly operated health plan.  With more than 2 million members and 3,200 clinicians L. A. Care's mission is to provide access to quality health care for Los Angeles County's vulnerable and low-income communities and residents and to support the safety net required to achieve that purpose. Visit www.lacare.org

Contact:
Lorraine Sedor
SpectraMedix
609-336-7733 Ext. 308
lorraine.sedor@spectramedix.com