Identify six focus areas to manage business model changes

#5in5_Blog_BannerProviders can better manage enterprise-wide care transitions by addressing six key focus areas.

As provider organizations map their strategy for transitioning into a value-based care organization, they may find they need to redefine their whole business model.

It’s a big undertaking. Providers can make it more manageable by breaking the work into six categories.

  1. Physician alignment  Providers need to align and engage with the physicians. They need to see physicians as partners and enable them to make better decisions through measuring clinical performance.
  2. Create integrated care systems Patients expect improved access and convenience and will seek out providers who can integrate care and health information.

Providers can create governance mechanisms that allow physicians — both employed and affiliated — and other care providers to work seamlessly together. They can also work to ensure priorities are aligned with capabilities and that data are used properly.

  1. Enable the right technology Because of electronic medical records (EMRs) and technology that aggregates clinical data from those EMRs with claims data, large and diverse digital health care data sets are now available. This data can be structured to create analytics that can be used to inform decisions and help predict risk.
  2. Determine risk Providers must manage risk. Before risk was centered on market share and volume. Now providers must think of risk from an outcomes perspective. They need to match opportunities and challenges with their own capabilities, assets and service lines.
  3. Engage patients Providers need to ask themselves, ‘how do I think about an individual as a consumer and how do I bring them into my system?’

This is a focus for population health leaders like Steward Health Care System.

“Hospitals and health systems have to think of ourselves in more of a service capacity,” said Steward’s Chief Operating Officer Dominique Morgan-Solomon. “The point is consumers getting what they want, right when they want it.”

  1. Learn to manage a network of care Managing a network of care requires an infrastructure that supports patients across the care continuum, tracks utilization and gauges staffing needs. It can also benefit from a governance structure that operationalizes decision-making, leadership and accountability.

Learn about identifying the market dynamics that can affect the order and the speed in which providers should address these categories in the Optum white paper Preparing for the payment models of tomorrow.

Download this infographic to explore four key steps to take to help you plan your transition from volume to value.

About the author

LH_low-resLeslie Cozatt currently serves as Director of Marketing, Optum Provider – Thought Leadership and Content Strategy. She directs the development of content that spotlights the role of data analytics in healthcare – specifically the transition to value-based care, risk management and population health management. She brings to her role more than 20 years of experience developing B2B and B2C integrated marketing campaigns for companies including ThreeWire, Eliance and 3M. Leslie attended the University of Minnesota and graduated from Wellington College with a BS in International Business & Communication.

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