DALLAS, Jan. 30, 2013 (GLOBE NEWSWIRE) -- CenseoHealth, a leading provider of risk adjustment evaluation and analytic services for health care plans, today announced key highlights of its 2012 performance. CenseoHealth's progress, detailed below, provides a strong foundation for the Company to accelerate the availability of its innovative Advanced Evaluation™, an in-home assessment of an insurer's qualifying population conducted by one of CenseoHealth's 2,000 physician evaluators.
Specific highlights from 2012 include:
CenseoHealth's focus on aligning health plan's objectives with the actual health of their members has fueled rapid and continued growth of the volume of member evaluations performed by the company. This growth includes:
- Performed a record 140,000 Advanced Evaluations, for an overall case volume increase of 150 percent compared to 2011.
- Scheduled an impressive 76,314 Advanced Evaluations in Q4, averaging 1,338 per a day.
- Increased client base by 93 percent, adding 13 new clients and expanding the total to 27.
- Employee base reached 185, a growth of 164 percent over year-end 2011.
Key Service Line Achievements:
CenseoHealth brings a long-standing commitment to provide the most comprehensive and precise risk adjustment services to health plans and their members. During 2012, this commitment was manifest in the Company's key service offering, the Advanced Evaluation:
- Over 140,000 members, including Medicare Advantage, Medicaid and Dual coverage clients, were served by the Advanced Evaluation, an in-home, face to face evaluation of an insurer's qualifying population by one of CenseoHealth's physician evaluators that successfully identifies gaps in care and attempts to accurately identify all chronic diseases for which the member should be receiving treatment.
- In 2012, CenseoHealth was able to confirm and/or code an average of 1.5 HCC codes per member.
- The largest number of distinct HCC codes confirmed/coded for a single member in 2012 was 16.
Expertise & Infrastructure:
In order to support the vastly increased demand for CenseoHealth's services, 2012 investments focused on increasing the Company's expert personnel and infrastructure. These investments included:
- Increased number of doctors performing Advanced Evaluations, to over 1000, including CenseoHealth's top physician, Dr. G. Merrell, who performed 1,485 evaluations last year.
- Developed Virtus, an application encompassing physician management, evaluation scheduling and tracking, providing a seamless tie into the electronic Advanced Evaluation tool. With this end-to-end technology solution, primary care providers and health insurance clients are able to access member schedules and information gathered during Advanced Evaluations.
- Hired an additional 60 schedulers, increasing the total to 90, a 200 percent increase over 2011 to make sure plan members in need of an Advanced Evaluation were able to meet face-to-face with one of CenseoHealth's physicians.
- Continued to provide the Advanced Evaluation to all areas of the United States, both urban and rural, including Michigan, where 23,627 evaluations were performed, the most of any location in the U.S.
- Increased corporate square footage from 9,800 to just over 20,000, an increase of 105 percent and have secured an additional 10,000 square feet for occupancy in April 2013. In just one year, the Company will have increased its square footage more than 200 percent.
"This was an important year as it was the culmination of our transition from a startup company into a burgeoning risk adjustment services company. We attracted and hired the right people to accomplish this transition and we added several essential new functions to our services that expanded our ability to impact the health care of plan members in a significant way," said Dr. Jack McCallum, CEO of CenseoHealth. "2012 was a successful year and we look forward to continuing to help plans, their members and health care providers improve the health of the member in the years to come."
"This year, significant investment in improving and evolving our proprietary technology made our systems faster and smarter, while always maintaining our best-in-class security and compliance standards," added Archie Block, Director of Information Technology at CenseoHealth. "As a result, we believe our enhanced technology will significantly contribute to the information flow, including client data, CenseoHealth's internal infrastructure, and the continuous research and development initiatives that will provide better health care outcomes to members."
CenseoHealth leverages a dynamic, data-driven evaluation platform combined with physician-led member engagement sessions to achieve a critical goal in today's health care economy: aligning health plan payments and premiums with the actual health of plan members. CenseoHealth delivers on this promise through a suite of integrated services, including the Advanced Evaluation™, a face-to-face health risk assessment conducted by one of the Company's 10,000 licensed physicians in their network nationwide. CenseoHealth's CareCurrent™ and CareConnect™ services further allow health plans and medical groups to close gaps in care through 100 percent documentation and proactive claims tracking and direct outreach. The common thread is greatly enhanced connection for clients and their members which, in turn, positively impacts member engagement and health outcomes. For more information please visit www.censeohealth.com.
Director of Marketing, CenseoHealth
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