PARA-SCOPE ® - Provider Risk Ranking and Analytics Site Launched
May 31, 2016
Atlanta, GA - Formation Healthcare Group (FHG), a division of Formation Capital, has launched PARA-SCOPE ® , a post-acute risk evaluation tool that was developed in collaboration with some of the industry’s leading organizations and largest operators. At the click of a button, PARA-SCOPE ® allows stakeholders to analyze summary data and identify key risk areas by comparing one or more providers to benchmarks using Formation Healthcare Group’s expertly designed risk ratings.
Comprehensive data from multiple sources including Nursing Home Compare, Quality In-Cite®, American Health Care Association (AHCA), and FHG’s proprietary predictive analytics models is combined into one quick summary report – including regulatory survey outcomes, occupancy, re-hospitalization rates, 5-Star Ratings, enforcement actions, quality measures, special focus facility designation and candidacy, predicted likelihood of adverse outcomes, and more.
Early subscribers to PARA-SCOPE ® include lenders, operators, marketers, investors, insurers, and researchers conducting portfolio due diligence, performance trending, market/competitor analyses, preferred provider network development, and resource allocation and prioritization.
FHG also offers prescriptive Trigger Reports which identify key areas of opportunity that are triggering high-predicted likelihood of adverse events, allowing operators to understand the need for and deploy specific resources to areas of greatest need and impact.
“The industry has evolved dramatically over the last few years due in part to the ACA and financial pressures to provide quantifiable quality outcomes for the services provided by all payor sources. The need for an on-demand, comprehensive tool to assess performance and risk that is descriptive, predictive and prescriptive is critical to understanding clinically- related exposures for many stakeholders,” explains Trissie Farr, Senior Vice President of Formation Healthcare Group. “The entrepreneurial insights of our founders at Formation Capital in the early 2000s positioned our advisory team with the opportunity to have a “clinical competitive advantage” and be primed for these future changes. It is exciting to introduce PARA-SCOPE®, which brings this information together from disparate data sources into one location, allowing users to view, benchmark, and analyze information quickly “at-a-glance” in one place. As a result of the hard work from our team led by Jessica Curtis and various partners in the industry, I am proud to introduce what we hope is the first of several such tools to assist stakeholders in navigating the challenges ahead in the Post-Acute Care space.”
While PARA-SCOPE® is available on demand through www.para-scope.com for skilled nursing facilities, operators can also gain access to an assisted living PARA-SCOPE® through a subscription to Formation Healthcare Group’s Quality In-Cite® database, along with a skilled nursing PARA-SCOPE® that includes real-time regulatory survey outcomes and access to Trigger Reports.
About Formation Healthcare Group
Formation Healthcare Group is a clinical consulting group that tracks, trends, benchmarks, analyzes, and reports on the clinical performance and regulatory compliance of operators and their facilities. We use our regulatory knowledge along with Quality In-Cite™, our proprietary database, to proactively alert owners, operators, management companies, private equity firms, investors, and lenders to insights that will impact value in a monitored asset or potential investment. For more information on Formation Healthcare Group, please visit www.formationhealthcare.com .
About Formation Capital
Formation Capital is a private investment management firm focused on seniors housing and care, post-acute and health care real estate investments. Since our inception, Formation Capital has demonstrated the ability to source attractive opportunities, execute complex investment structures, align partner incentives, mitigate investment risk and generate value in real estate and operationally oriented strategies to achieve superior risk-adjusted returns. For more information on Formation Capital, please visit www.formationcapital.com.
Media Contact: Jessica Curtis, VP Clinical Systems & Analytics – 803-920-8151 or firstname.lastname@example.org