Pascal Metrics

Enabling hospitals and clinics prevent medical errors, harm, and related cost
Austin

About Pascal Metrics

Pascal Metrics automates identification of medical errors and harm using real-time electronic healthcare record (EHR) data so that clinical teams can avoid unsafe and low quality care as well as related cost and missed revenue opportunities.

Pascal Metrics is an outcomes data company transforming global patient safety, risk, and quality. Pascal's up to 24/7 Virtual Patient Safety (VPS) solution uses real-time electronic healthcare record (EHR) data to "measure and manage all harm all the time for all patients." VPS identifies preventable patient harm in support of intervention and improvement across health systems. These clinically validated adverse event outcomes using EHR data (AE Outcomes) are optimal for training ML and AI models -- the largest data set of which Pascal holds worldwide, which is valuable across not only for the provider sector but also for medical malpractice, employers, and life sciences.

Tagged with

Team

Problem statement

Hospitals and clinics identify the errors and harm patients suffer in only 5% of cases, because they largely rely on manual "see something, say something" self-reporting. This misses 90% of the serious harm resulting in lawsuits, doubles the risk of death, increases the length of stay, and increases the chance of readmission – costing insurers, payors, and the health systems themselves more, as well as affecting African Americans and Latinos disproportionately.

Traction Metrics

Milestones

October 2022

Leading Academic Medical Center Validates Value Proposition for Risk Management

A leading academic medical center (AMC) anchored health system validated that Pascal’s Virtual Patient Safety (VPS) solution demonstrated the ability to identify 10 times the potentially compensable events (PCE) [meaning the events represente potential lawsuits] as compared to the traditional event reporting “see something, say something” method. This will accelerate both the client’s effort to have their medical professional liability insurer provide compensation in exchange for using Pascal’s VPS solution as well as the likelihood that this insurer will join Pascal’s data consortium and pay for high margin Pascal data analytics in a regulatorily compliant way.

August 2022

U.S. government promulgated the EHR-based safety measurement method pioneered by Pascal

It is publicly known that the U.S. Center for Medicare and Medicaid Services (CMS) contracted with Pascal and its academic partner to develop the first EHR-based hospital harm measures. These new electronic harm measures replace the traditional claims-based approach (PSI-90), and will determine how 50% of hospital reimbursement will be paid for safety. Pascal is the leader in the industry in having operationalized these types of measures at scale and, importantly, demonstrated how health systems can improve them.

July 2022

1st Enterprise Deal Expands by 25% and Likely to Double in FY23

Pascal’s first enterprise deal, one of the four largest health systems in the United States, expanded its spend by 25%. Economics more than doubling the current spend were pre-negotiated for FY23, taking the ARR to the high 7 figures.

April 2022

1st Medical Professional Liability Insurer Funds Pilot to Test Pascal Method for Underwriting Risk

This is one of the largest medical professional liability insurers in the industry with sufficient market share to change the industry standard.

January 2022

Contracted Second Client of Four Largest U.S. Health Systems

This 2nd of the four largest U.S. health systems means Pascal is contracted with 50% of the largest U.S. health systems with an available footprint for expansion of ~300 hospitals. More importantly, from the standpoint of data under management, once Pascal implements and begins to to accumulate AE Outcomes data from the operation of our solution, the size of our AE Outcomes data set and rate of growth will be extremely hard to surpass by other entrants – representing the highest barrier to entry and most durable competitive advantage in our market.

September 2021

1st Health System Enterprise Deal Validates ROI of >6x

Pascal’s first enterprise deal, which is with one of the four largest health systems in the United States, validated internally on a data science team led by a CXO physician, that Pascal’s Virtual Patient Safety (VPS) solution enables them to avoid at least $5,418 of direct variable cost for each patient avoiding harm.

July 2020

Pascal Releases Virtual Patient Safety (VPS) Solution

Pascal added Expert Clinical Review (ECR) to its Risk Trigger Monitor (RTM) and Expert Safety Advisory (ESA) subscription services, resulting in the comprehensive, integrated Virtual Patient Safety (VPS) solution. While Pascal had pioneered and been improving its RTM software for many years, adding ECR resulted in being able to offer hospitals and clinics a turnkey solution for monitoring and avoiding preventable errors and harm up to 24/7. Pascal releases this amidst the pandemic, which accelerated product-market fit due to the heightened demand for electronic demand for remote patient safety monitoring and the elevation of patient safety as a priority overall.

Updates

Daniel Neiconi has visited this profile using a private link.
Added over 1 year ago
Chrissy Liotta has visited this profile using a private link.
Added almost 2 years ago
Profile created.
Added almost 2 years ago