In the previous Journey to Value post, we discussed the usefulness of population health management (PHM) as a bridge between the volume and value worlds. This final post in the Journey to Value series discusses another program necessity as organizations journey to value: comprehensive data and sophisticated analytics.
The fuel for the value-based care is quality data. And if data is the fuel, analytics is the engine. Coupled with the right analytics, data can help organizations focus on the patients and the conditions that have the most potential for cost savings and care quality improvement.
Analytics and predictive modeling tools help organizations identify high-risk patients, a critical capability in value-based organizations. These tools can also help providers predict with a high degree of certainty if a patient could become high risk, determine the most effective interventions for a given population and analyze clinical performance. Additionally, a single shared analytics and predictive modeling platform can drive transparency across participants, allowing for proactive communication around outcomes, variation of care and population management.
Comprehensive data and analytics can also make a difference in the fee-for-service world. CMS and commercial payer quality reporting requirements continue to expand, and providers are being increasingly evaluated — and paid — based on quality outcomes. Data and analytic tools give such organizations a true view of the type of care they provide, helping them decrease variation, reduce complications and prevent readmissions. And, of course, if they are leveraging population health management while straddling the line between volume and value, analytics is a must.
An essential step on the path toward fee-for-value success is engaging clinicians by leveraging the right combination of data and analytics. Organizations will find tremendous value in using data to persuade physicians to improve the way they practice, but it takes a combination of technology and people working together to gain the highest reward.
And so it begins. The journey never truly ends, as technology improvements and better data analysis continue to evolve with changing market trends and patient population demands. But, with strong financial platforms and an eye for clinical quality, provider organizations can be poised to take the greatest advantage of this significant shift while ensuring the health of their patients for years to come.
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