The company's value-based insights help diagnostic laboratories offer a personalized, five-star service experience resulting in growth, retention, and profitability
MOUNTAIN VIEW, California, Oct. 13, 2015 /PRNewswire/ -- Based on its recent analysis of the use of customer relationship management (CRM) solutions in the $70 billion US diagnostic laboratory market, Frost & Sullivan recognizes hc1.com with its 2015 North American Award for Product Leadership. Since its inception in 2011, hc1.com has become the world's most widely connected healthcare relationship management platform in the diagnostic laboratory market. The company's Healthcare Relationship Cloud® platform is the only solution built from the ground up to meet the specific needs of healthcare organizations.
By automatically creating holistic provider and patient profiles that include all relevant business and clinical information, hc1 delivers unprecedented visibility across the healthcare spectrum—from health systems and laboratories to physicians and patients. Armed with live intelligence including physician test ordering patterns, test result timeliness, and the patients who require attention based on specific result values, labs are able to offer proactive, highly-targeted services that ultimately translate into strong retention of referring providers and an outstanding patient experience.
"hc1.com is unique in that its solution combines the capabilities of both healthcare-specific CRM and live business intelligence into a single platform," said Frost & Sullivan Research Analyst Divyaa Ravishankar. "As a result, the adoption of the hc1 Healthcare Relationship Cloud is spreading from data-rich labs to health systems, specialty hospitals, ambulatory service providers and post-acute care organizations seeking to compete in the new, value-based healthcare environment."
For instance, the hc1 Healthcare Relationship Cloud eliminated data silos and improved communication frameworks within Alere's toxicology business unit, which operates nine locations across the United States. With multiple lab information management platforms, billing systems and customer service centers, aggregating data to create a uniform client view proved to be a considerable challenge for Alere. Without having to replace existing systems, the hc1 platform unified data into a holistic view to enable a consistent client experience across all locations while providing the executives visibility into the health of key client relationships.
Another critical function for labs is gaining insight into payer test coverage patterns to optimize financial performance. Labs and health systems run the risk of losing money when tests are not covered by Medicare, Medicaid, or commercial insurance services. hc1's utilization insight solution is synced with the National Coverage Determination (NCD) database, which lists the tests falling within the scope of coverage and aids physicians in making informed decisions about which tests to order.
"Investing in the hc1 solution can also support labs with outreach activities," noted Ravishankar. "By tracking total test volume and number of tests run per patient, a lab can identify at-risk clients and set up campaigns for specific tests, thereby immediately making a positive impact on its business."
By combining healthcare CRM, real-time analytics and secure collaboration features, hc1 is able to meet the unique needs of the healthcare market. Further, its specialized support for diagnostic labs has led to its rapid ascent to the top of the diagnostic lab CRM market in North America.
Each year, Frost & Sullivan presents this award to the company that demonstrates innovation in product features and functionality that provides enhanced quality and higher value to customers. The award recognizes the rapid acceptance such innovation finds in the marketplace.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for outstanding achievement in areas such as leadership, technological innovation, customer service and product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research.
The hc1® Healthcare Relationship Cloud® enables health systems and diagnostic labs to personalize the healthcare experience for patients and providers throughout the entire care journey. Designed to meet the specific clinical and business relationship needs of healthcare entities, the hc1 Healthcare Relationship Cloud has been adopted across more than 700 locations around the globe and has processed over 1.5 billion diagnostic transactions across 30 million patient profiles to date. hc1.com works with industry leaders such as Cleveland Clinic, Alere, Sonic Healthcare, and AmeriPath. More information is available at www.hc1.com, on Twitter @hc1_HRM, on LinkedIn at https://www.linkedin.com/company/hc1-com and Facebook at https://www.facebook.com/hc1.com.labCRM.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies? Contact us: Start the discussion.
P: +1.210. 247.3870
SOURCE Frost & Sullivan