In the move from fee-for-service to value-based health care a number of organizations are missing the target. I have seen several very good health care groups miss out on substantial value-based contracts because they could not take on the risks. The solution is to manage the risks through the utilization of analytics.
Florida Medical Clinic, based in the Tampa Bay region, wanted to grow its business by adding more value-based contracts. They used analytic engines powered by Optum One to pull data from their system to share with their providers, which lead to a whole process of performance improvement within the organization.
“Optum One has really been an important part of helping us get to where we want to get with not only our ACO but several other value-based contracts,” said Emilio Dominguez, chief medical officer of Florida Medical Clinic.
Unaffiliated with any hospital, Florida Medical Clinic is a free standing, multi-specialty group serving the Tampa Bay area via several locations. The group has more than 200 physicians and around 50 physician assistants.
The clinic used analytics to extract patient and population data out of their system in a timely fashion. By utilizing the latest information, Florida Medical Clinic keeps ahead of the risk curve, which allows them to take on much larger value-based contracts.
“Optum One has helped us make several changes in our business, including our ability to now contract with commercial payers on value-based type contracts,” said Dominguez. “We’re looking at quality and we’re looking at costs. So you do get from what was potentially mediocre to what is good and eventually what is great.”
Hear more about Florida Medical Clinic’s success and how analytics can help health care organizations improve patient care, upgrade population health, and decrease costs.
About the Author:
Carl Johnson, MD, EdM, MSc. is a pediatrician trained at Boston Children’s Hospital. He completed a Medical Education fellowship at Harvard Medical School and was a faculty health services researcher at The Mount Sinai School of Medicine.
Before joining Optum Analytics he worked as a physician executive at Cerner Corporation. He is a graduate of the Mount Sinai School of Medicine in New York City and has held faculty positions at Harvard Medical School, University of California at San Francisco, The Ohio State University, and The Mount Sinai School of Medicine.
Dr. Johnson believes that healthcare can be transformed with the help of the right data. When he is not helping to transform healthcare, he can be found playing tennis, cooking, perfecting his French, taking photographs, reading historical fiction, listening to music, and watching Ohio State Football.