“It’s like the proverbial changing of the tires while driving down the road at 90 mph,” says Steve Griffiths, senior vice president of Health Care Analytics Consulting at Optum.
“Providers know they need to go further and faster, but quite frankly, the investments that many of them have made won’t get them where they need to go.”
There are several challenges holding providers back. For example:
- Analytics platforms have improved, but many providers aren’t yet getting the most out of the information
- Providers are struggling to determine where best to focus their resources and apply their analytics insights to drive value.
- Providers are spending money on analytics, but without a clearly defined return on investment.
- Clinical analytics are providing insights, but not affecting outcomes at the level providers expect.
“Many providers find they need to figure out how to get the most from the investments they’ve made, while they make some additional strategic investments to build for the future. And given that carrying risk under a value-based contract is relatively new to them, they’re in need of strategic help and ongoing support,” says Griffiths.
One strategy for addressing these challenges is managed service partnerships. Alleviating the need for providers to change their own tires, these relationships create a sort of pit crew — a team that can oversee technology and operational services — allowing providers to focus on patient care.
A new topic spotlight from Optum explains more about managed service partnerships. Click here to download: Providers operationalize analytics to optimize revenue, improve patient outcomes in a value-based world.
You’ll read about these partnerships, learn what questions to consider when choosing a managed service partner, and uncover the kind of expertise these partners can offer.
About the Author:
Steve Griffiths, PhD, MS
Senior Vice President, Health Care Analytics Consulting, Optum
Steve Griffiths currently oversees the Health Care Analytics consulting practice within Optum consulting. He has more than 20 years of experience in health analytics management, program evaluation and consultation. Key focus areas of this team include population health analytics, provider network analytics, provider risk enablement and custom analytic solution development. Steve’s team provides statistical and actuarial consulting services, data management, and specialty analytics reporting and analysis to internal and external customers in the payer and provider markets.
Steve received a master’s degree in biostatistics from the University of Washington and a Ph.D. in health services research, policy and administration from the University of Minnesota.