New Technology is Part of Company’s Larger $50 Million Investment in Ongoing Product Innovation
LENEXA, Kan. — Oct. 4, 2018 — WellSky, a leading health and community care technology company backed by TPG Capital, today launched an innovative new solution, WellSky Hospice Applied Insights. This solution equips hospices with meaningful data to deliver smarter care at the end of life. This year, more than 1.5 million patients will receive hospice care according to the National Hospice and Palliative Care Organization. WellSky Hospice Applied Insights delivers the predictive intelligence that hospices need to ensure their patients are surrounded by their family and caregivers at the appropriate time.
WellSky Hospice Applied Insights is cutting-edge, machine-learning technology that harnesses key data captured in WellSky Hospice software, including real-time clinical, symptomatic, and psychosocial data. Hospice Applied Insights was developed to help hospices keep people comfortable in their homes and reduce the likelihood of revocations, which can result in patients and their families experiencing expensive and traumatic deaths in hospitals.
“WellSky Hospice Applied Insights demonstrates our commitment to delivering innovative, intelligent solutions built to help our customers elevate the care they provide and succeed into the future,” said Bill Miller, CEO of WellSky. “We worked directly with customers to develop this solution, so they can better meet the needs of their patients and families. We’re proud of the extraordinary results they’re already experiencing.”
Hospice Applied Insights leverages a historical database of 600,000 previous hospice visits captured in WellSky Hospice medical records to identify the top trends and risk factors that precede death or a negative patient event. Data visualization provides hospice clinical leaders with a high-level view of these predictions across their patient population, so they know when and where to focus their clinical resources to deliver care to the patients who need them most.
“WellSky Hospice Applied Insights allowed us to increase the hours we spend with patients in the last seven days of their life by 61 percent,” said Darren Bertram, CEO of Infinity Hospice and a WellSky Hospice Applied Insights early customer. “We’ve had several occasions where we were able to send a nurse out to a patient’s home in time for them to be with the patient and their family on the day of their death.”
As increased regulation, provider consolidation, and the transition to value-based reimbursement drive rapid change in health and community care, WellSky is investing nearly $50 million in research and development so its customers can lead their industries with innovative machine-learning solutions like Hospice Applied Insights. Hospice Applied Insights is part of WellSky’s larger data science initiative, including other similar analytics technology solutions that help WellSky clients monitor patient medication adherence and predict hospitalization risk.
“There has never been a more dynamic time in the hospice space, as both patient care and regulations continually and rapidly evolve,” said Bertram. “We believe that one of the most important quality metrics is the time spent with patients in the last seven days of life.”
WellSky is a technology company advancing human wellness worldwide. Our software and professional services address the continuum of health and social care — helping businesses, organizations, and communities solve tough challenges, improve collaboration for growth, and achieve better outcomes through predictive insights that only WellSky solutions can provide. A portfolio company of TPG Capital, WellSky serves more than 10,000 customer sites around the world — including the largest hospital systems, blood banks and labs, home health and hospice franchises, government agencies, and human services organizations. Informed by more than 30 years of providing software and expertise, WellSky anticipates providers’ needs and innovates relentlessly to help people thrive. Our purpose is to empower care heroes with technology for good, so that together, we can realize care’s potential and maintain a healthy, flourishing world. For more information, visit www.WellSky.com.
TPG is a leading global alternative asset firm founded in 1992 with more than $84 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.
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