| Olio |
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| 6202 Carrollton Ave., Suite A, Indianapolis, IN 46220 Olio.health Contact: hello@olio.health |
For-profit | |
| Role(s) | • Olio is a software solution that makes it simple for hospital systems, physicians and payers to actively engage with post-acute providers about each patient’s care. • With Olio, care management teams know where their patients are once they leave their care, what their status is and have the ability to engage with post-acute clinicians to ensure better healthcare outcomes. • Health systems, physicians and payers can successfully manage post-acute networks and deliver a high standard of care at scale. • Olio serves health systems, physicians, payers, ACOs, and full spectrum of post-acute providers. |
| Mission | Help the vulnerable and sick through a technology solution that innovates, simplifies and scales post-acute strategy for health systems, physicians and payers. |
| History | • The precursor to Olio was a moon lighting consulting entity that embarked at the advent of CMS’ mandatory bundled payments bringing hospitals, physicians and PAC entities together to improve outcomes. The result was two years of focused research, lowering PAC spend by >30%, and a clear understanding that results were not sustainable with people and process. Olio pivoted and poured all those learnings into building technology to fill this gap between acute and PAC environments. • Olio Health, Inc., a software-as-a-service (SaaS) product, solves for a universal healthcare problem that providers don’t know where their patients are, how they are doing, and if they are trending in the right direction after they leave the hospital and enter post-acute care (PAC). • This problem that has been floodlit within the pandemic as coordination of hospital and PAC care (i.e., nursing homes, home health, and acute rehab) has fallen woefully short under the stress test. Further, sweeping regulatory changes from the Centers for Medicare and Medicaid Services and private payers have been systematically imposing accountability and financial risk on providers. The economic shift for providers is transforming how patients are cared for and managed. • Olio simplifies and scales the way providers work with vast networks of PAC partners that creates clinical and economic alignment. Olio connects acute, physician, payers and PAC providers in a software platform that supports all patient populations, lowers total cost of care, and allows for operational efficiencies in the delivery of care in a mobile and web application. |
| Org | 21 full-time team members in Indiana Leadership: • Ben Forrest, Chief Executive Officer • Sean Mullins, Chief Operating Officer • Sean Lavies, Chief Technology Officer • Eric Huebner, VP of Business Development • Eddie Keever, VP of Customer Engagement • Kaleb Kuhl, Vice President of Sales • Rachel Kilroy, Director of Product • Kristy Esch, Director of Marketing |
| Board | Private |
| Finance | Raised to-date - $4.8M Seed Funding Key Funding Sources - Angel investors |
| Data Source | Olio leverages its own data captured in the software solution. |
| Data Access | Patient data is securely imported into Olio through a recurring flat file or ADT feed. All data is HIPPA compliant. Olio provides data insights with real-time data for clients to see how they can succeed in value-based care arrangements and care for patients across the continuum. |
| Tech Capabilities | • To protect our clients’ data, we have partnered to build a HITRUST certified infrastructure that is both ISO 27001 certified, SOC 2 Type 2 audited, and have full HIPAA and GDPR/Privacy Shield compliance programs in place. • Furthermore, we have developed internal controls, policies and procedures to protect our clients’ data that is audited by an independent 3rd-party entity to ensure both a secure IT environment and regulatory compliance. |
| Projects |
• Olio has found traction within its customers, lowered total encounter spend in the PAC or scaled their post-acute engagement reach farther than they imagined. Since the pandemic, we have seen increased use of Olio by all measures including total number of users, sites, logins, and total patients impacted. • Manage 198,000 lives, 2,243 Users/Clients of Olio • Health and Economic Outcomes with Olio: • Indiana University Health: A 16 hospital health system that encompasses an academic medical center, 3,700 physicians, 33,000 employees selected Olio in Q4 2019. IUH initially launched Olio in three hospitals to validate their hypothesis of Olio’s potential economic and clinical impact. Per IUH, Olio was able to lower SNF length of stay by 12% and reduce readmissions by 26% on their Medicare Advantage and Medicare ACO lives that landed in skilled care. • Further, IUH found that their SNF patients closely managed in Olio went home ~7 days sooner from a nursing home than those that didn’t. When digging a bit deeper evaluating IUH patients that were in the appropriate site of care, at the right time, readmissions were reduced a remarkable 45% when supported by Olio. • In March 2020, IUH scaled Olio to 16 hospitals, 230+ nursing homes, LTACHs, and acute rehab partners to support IUH vulnerable patient populations. With Olio, IUH has established one of the most innovative and responsive models supporting clinician and patients in post-acute care in the nation. • Deaconess Health System: A nine hospital health system providing services to 26 counties in Indiana, Kentucky, and Illinois is a top three performing CMS Next Generation ACO that continues to take significant up and downside risk in value-based care arrangements. Deaconess selected Olio who created a digital post-acute network for Deaconess spanning 3,190 square miles across the tri-state area with our software. In the first quarter of being implemented, Olio was able to reduce SNF readmissions and time spent at the nursing home for their patients which saved Deaconess $548k compared to the same quarter the prior year. Deaconess also uses Olio to complement their tele-health strategy by triggering visits of SNF patients via Olio to lower readmissions out of the PAC environment and drive revenue. |
| Future Focus | Olio will continue to innovate their software to improve collaboration, communication, and data insights for their clients around high-risk patient populations. It will further bridge integrations that will bring value to clients and simplify the way complex patients are supported and managed. |
| Talent Development | Olio has two Orr Fellows. Employees request to participate in training with approval by manager. |
| Data Sharing Agreements | Not public, client specific. |
| Programs/ Publications | Olio is a member of the National Association of ACOs and the Population Health Alliance. Olio has been featured in Becker’s Hospital Review, Modern Healthcare, Fortune, Indianapolis Business Journal, Inside Indiana Business, Skilled Nursing News, Healthcare Weekly, MobiHealthNews, along with others. |