Historically, healthcare providers have been unable to evaluate growth opportunities in different markets on a comparative basis at scale
Health care analytics company Trilliant Health announced today the launch of its AI-Powered Site Selection solution, which provides robust multi-market growth opportunity evaluation for health systems looking to expand their care footprint using industry-leading data and analysis. AdventHealth, a faith-based, non-profit health care system that operates 50 hospital facilities in nine states across the United States, is the first announced Site Selection partner.
Historically, healthcare providers have been unable to evaluate growth opportunities in different markets on a comparative basis at scale. Using first-party and third-party data sets, Trilliant Health’s Site Selection solution provides, for the first time, a deep view of consumer migratory patterns, projected care needs, and setting of care preferences. It is highly customizable, allowing health system executives to develop custom indices based on geographic area and tailor individual attributes to assess de novo, same store, or M&A growth opportunities at a CBSA or Zip Code level.
“As we strive to provide whole-person care to more people and improve the accessibility and convenience of our services, we look forward to the insights that this partnership will provide and the opportunity to be more efficient, strategic and precise in our growth,” said Craig Baker, vice president of strategy and innovation for AdventHealth.
AdventHealth will use Site Selection to expand its footprint through net-new site selection. The team at AdventHealth requires data-driven insights into the long-term viability of new locations within an existing market’s footprint. AdventHealth will use Site Selection to understand the current landscape and where its competitive advantages are as well as to develop inputs for successful go-to-market strategies.
“As a former health system executive, I know the value of a predictive analytics solution that can recommend the best markets for growth in an industry that is perpetually capital constrained,” said Trilliant Health Chief Executive Officer Hal Andrews. “Health systems cannot afford to make poor decisions about long-term real estate assets. Our solution is designed to provide detailed understanding of diverse markets instantly, considering competition and care need along with market attributes like population growth, percentage of third-party payers, and outmigration.”
Source: Company Press Release