RICHMOND, Va. (May 7, 2019) – Venebio Group, a leader in personalized predictive health care algorithms, recently was honored at the Validation Institute’s annual Health Value Awards ceremony in Washington, D.C. Venebio received a Health Value Award for its risk-screening tool for prescription opioid overdose, Venebio Opioid Advisor (VOA), in the Program Provider – Specialty Pain Management/Addiction Reduction category.
The Health Value Awards recognize health care vendors, brokers and purchasers who consistently deliver high value that can be replicated throughout the continuum of clinical and financial risk management. Tools in the validated categories, such as VOA, are evaluated for performance and methodologies and are then reviewed by a panel of nationally prominent judges for market viability, impact and innovation.
Venebio was one of 30 winners including other health care organizations such as Anthem Blue Cross and Blue Shield, Evolent Health, and Edison Healthcare.
“It’s a tremendous honor to be recognized by such a well-regarded organization like the Validation Institute,” said Mark Tripodi, chief development officer for Venebio. “This award affirms much of what we’ve heard from our clients – that VOA is one of the most effective tools available to predict and reduce the risk of prescription opioid overdoses.”
“On behalf of Validation Institute and our 2019 Health Value Awards judges, it’s fair to say we were overwhelmed by the number of applications we received for this year’s award program,” said RD Whitney, CEO of Validation Institute and the Master of Ceremonies for the event. “Tonight, we celebrate all companies who have made it their mission to provide better health outcomes at lower cost.”
Venebio Opioid Advisor is the only validated tool able to predict with 90-percent accuracy the likelihood of a life-threatening overdose from a prescription opioid. VOA uses a proprietary algorithm to develop a personalized risk profile based on multiple demographic and clinical variables associated with prescription opioid overdose. In a population of 100,000 opioid-treated patients, VOA was projected to result in 400 fewer emergency department visits and 120 fewer hospitalizations, saving $2 million in costs associated with treating prescription opioid overdose.
VOA has been implemented by health care organizations to identify patients at risk of experiencing a prescription opioid overdose, including Amida Care, CentraCare, Virginia Premier Health Plan and PrescribeWellness.
For more information about Venebio Opioid Advisor, click here.