Crimson AI
Comprehensive surgical cost management analysis
The surgical equipment market is projected to grow four-fold over the next decade, from $16 billion in 2023 to $45 billion by 2034. To manage expanding supply evaluation demands with limited hospital resources, health systems need comprehensive, real-time data to identify cost savings opportunities.
As part of the Crimson AI platform, the Surgical Cost module aims to do just that. By leveraging AI and data analytics, the solution pinpoints areas to reduce care variation and waste in procedural supplies.
Key features
Care variation reduction
Conduct cost-per-case analyses that integrate factors like price, utilization and risk-adjusted quality outcomes to identify and reduce care variation. Leverage analyses to inform product evaluations and eliminate high-cost items or substitute a lower cost item.
AI-powered preference cards
Generate a list of optimal supplies that factor in cost, quality and organizational vendor preferences directly in the EHR. Review AI-enabled smart recommendations based on case history and utilization to help maintain standardized, optimal preference cards.
Spend analytics
Our extensive supply master includes 500,000 SKUs and over 30 attributes across safety, category and size. Use our price benchmarks to monitor contract compliance with vendor partners, or conduct a category spend analysis to compare spending against those of cohorts.
Outcomes-driven value analysis
Utilize our comprehensive library with over 1,000 risk-adjustment and quality measures to enable informed product evaluation decisions. Our quality analytics provides insights across multiple care settings and even into specialty-specific measures.
AI-enabled smart opportunities
Our AI-driven smart opportunities automatically identify key cost-saving opportunities, helping to reduce variances across supply costs, procedures and specialties. This approach saves significant time and effort, eliminating the need for manual data analysis.
Optum’s surgical analytics easily deliver 10:1 ROI for our organization. My fellow CFO’s eyes light up when I tell them what true bottom line costs I have been able to eliminate year over year.¹
CFO, small regional health system
Key benefits
Discover how the Surgical Cost module can enhance surgical profitability for your healthcare organization.
Reduce supply cost variance and waste
Leverage a detailed data analysis of the average supply cost per case in conversations with your surgeons to help reduce costs.
Make informed product evaluation decisions
Conduct cost-per-case analyses that integrate price, utilization and risk-adjusted quality outcomes to inform product evaluations.
Track progress of initiatives
Create performance initiatives and action items, assign owners, and monitor and track progress using AI-supported predictive analytics.
Our impact
Optum has helped its clients achieve success and realize major cost savings.
$168 million
The total sum of positive margin impact found across all clients was $168 million.2
$21.7 million
Lehigh Valley Health Network achieved $21.7 million in realized cost savings since FY 2017 through the Surgical Cost module.1
$854,000
UVA Health saw $854,000 in cost savings over a single year by switching to more economic supplies.1
Related healthcare insights
On-demand webinar
Access resources on how to reduce surgical costs for your health system.
White paper
Learn more about how Optum Enterprise Intelligence Suite (EIS) enables best practices for achieving operational excellence.
E-book
Optimize your provider review process to help save time, reduce costs and improve care quality.
Product information and resources
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Sell sheet
Surgical Cost module
Learn more about how this module might benefit your organization and take a sneak peek into the solution’s user interface.
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Case study
Surgical case study compendium
Access a collection of case studies that share how our provider clients achieved significant improvements in surgical outcomes through data-driven strategies and analytics technology.
Complementary solutions
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Optimize surgical scheduling and operating room utilization with data-driven analysis and insights.
Hospital Quality and Utilization
We offer the data you need to improve hospital quality management and drive performance at the point of care.
Crimson AI Provider Review
Streamline physician review management and improve provider engagement with a unified AI-enabled workflow tool.
Crimson AI
Unlock healthcare data and transform it into robust business intelligence using AI-enabled feedback and suggested interventions.
1. Based on mutually agreed ROI between the client and Optum.
2. Based on mutually agreed ROI from all clients across 2019-2023.