Health care in the United States today is on an unsustainable financial path. Estimates of waste are staggering: Each year, The New York Times reports, $55 billion dollars is thrown away on missed prevention opportunities; $130 billion dollars is lost on inefficient service delivery; and $210 billion dollars goes to the delivery of unnecessary care.
At this key moment when reimbursement is becoming increasingly determined by the quality and value of care delivered, health care organizations need access to good data—and data analytics—to practice population health management. Advanced analytic tools can support accountable care activities by providing insight and value at every level of an organization’s performance, helping it better manage care at a lower cost.
The Community Health Network, for example, is managing its populations by building cohorts based on risk, and then directing its care coordination efforts toward the patients who are teetering on the edge of complications. As a result, the system has been able to reduce re-admissions among its congestive heart failure patients, from 19 percent to 17 percent. Using analytic tools, the organization has also found opportunities for better coding, which has benefited both patient care and the company’s bottom line.
Colorado Springs Health Partners, meanwhile, improved population health by reducing the prevalence of hypertension across its entire population by 10 percent in just one year.
Check out this video to learn more about how providers are tapping into the power of analytics to improve the health of their patients and their businesses.
In our next blog, we’ll look at how health care leaders around the country are using analytic tools to focus on patients who have the most potential for clinical improvement.