July 24, 2014 7:04 AM ET

Health Care Technology

Company Overview of Optum

Company Overview

Optum, through its subsidiaries, provides information and technology-enabled health services. It offers health management solutions that address the physical, mental, and financial needs of individuals and organizations; technology, information, analytics, and consulting solutions to make business and health decisions; and solutions for the delivery, clinical management, and affordability of prescription medications and consumer health products, as well as retail network contracting, rebate contracting, and management and clinical programs, which include step therapy, formulary management, and disease/drug therapy management programs for customers. The company’s health management solutions i...

13625 Technology Drive

Eden Prairie, MN 55344

United States

Phone:

866-386-3404

Key Executives for Optum

Chief Executive Officer
Age: 60
Chief Financial Officer and Executive Vice President
Chief Executive Officer of Optumhealth
Chief Administrative Officer and Executive Vice President
Chief Legal Officer and Executive Vice President
Age: 48
Compensation as of Fiscal Year 2014.

Optum Key Developments

Optum Launches Optum One, a Health Intelligence Platform

Optum has launched Optum One, a health intelligence platform that brings knowledge drawn from hundreds of millions of patient encounters directly to the fingertips of health care providers. Optum One enables health care providers to analyze data extracted from their electronic medical record (EMR) systems and enriched by claims data and take action on those insights, using intuitive applications connected through a single platform. Advanced predictive models identify gaps in care, help users coordinate care, and compare the real-world efficacy and associated cost of possible treatments. Optum One comes at a key moment in health care when provider reimbursements are increasingly determined by the quality and value of the care they provide overall instead of the volume of individual services they perform. This shift is borne from nationwide efforts to align incentives to achieve the goals of enhanced patient satisfaction, improved population health and reduced health costs. Optum One supports care providers with a series of knowledge and action applications that meet a full range of provider needs, including population and risk analytics, patient engagement and care coordination. Optum One features: an integrated analytics platform that is purposefully built for the health care provider market, with the accurate and integrated data; a database that includes clinical information on nearly 40 million treated patients as well as 20 years of claims data; monthly, it processes 700 million clinical notes, 3.1 billion lab results and more than 1 billion procedures, diagnoses and prescriptions; the ability to deliver analytics insights at the point of care, especially valuable for those ‘morning huddles’ when the opportunity to improve health and lower cost is greatest; modular apps that are seamlessly integrated into one platform; effective, risk-driven, cross-continuum care management; and the ability to facilitate true patient-centric, longitudinal population management that supports value based payment. The Optum One platform and applications are designed to deliver knowledge and enable targeted patient intervention. While they work seamlessly together, they are modular so that health care providers can utilize the applications they need as they move from fee-for-service to fee-for-value.

Optum Presents at IBF Digital Healthcare Innovation Summit, Nov-04-2013 through Nov-05-2013

Optum Presents at IBF Digital Healthcare Innovation Summit, Nov-04-2013 through Nov-05-2013. Venue: Four Seasons Hotel Boston, 200 Boylston Street, Boston, MA 02116, United States. Presentation Date & Speakers: Nov-05-2013, Eric Murphy, President, Payer Solutions, Michael Weintraub, Founder & CEO – Humedica.

Dignity Health and Optum Launch Company to Simplify Patient Billing, Modernize Health Care Administration

Dignity Health and Optum have formed Optum360, a major new venture that combines the companies' revenue cycle management capabilities. Optum360 is dedicated to transforming the registration, documentation, billing, and payment system so it works better for hospitals, health systems and other care providers, and delivers a better patient experience. Optum360's revenue cycle management services can meet the large-scale needs of major hospitals and health systems, and enable new care delivery and risk-sharing models, such as Accountable Care Organizations. The venture joins Dignity Health's proven revenue cycle operations expertise and scale with Optum's market-leading technology, expertise in ICD-10 readiness, and a client base of thousands of hospitals and physician groups. Optum serves more than 300 commercial and public health plans, and its deep payer operations expertise will be applied to making administrative processes between payers and providers more direct, faster, and simpler. Optum360's patient-centric approach to revenue cycle management has the potential to fundamentally transform both administrative processes and revenue yield and accuracy -- from patient registration to financial resolution of payments -- in ways no other solution can. It is designed to reduce costs and make medical costs more transparent while helping hospitals, health systems, clinics, and physicians modernize administrative processes and ensure appropriate revenue yield. Importantly, the Optum360 solution provides a complete view of the care experience from the patient's perspective, helping providers deliver a simpler, more satisfying experience to their patients. Approximately 1,700 employees from Dignity Health and 1,300 employees from Optum make up the initial workforce of Optum360, which will be the exclusive revenue cycle services provider to Dignity Health's hospitals, clinics, and physicians.

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