With providers increasingly being reimbursed under fee-for-value models, data and analytics are playing an ever-increasing role in an organization’s success. It’s become clear that analytics technology investments are key, but they are only an initial step in the transition to value
Leaders in many provider organizations are looking for solutions to help them understand how to apply insights gained from analytic platforms to improve outcomes and lower costs.
However, providers traditionally have focused their business models on providing health care on a fee-for-service basis. So they may not have the skillset needed to operationalize analytics in the areas of payer contracting, provider network management, care coordination and patient engagement.
Fortunately, the expertise and resources do exist within health care.
Managed services firms employ professionals with value-based care experience and partner with providers to offer both strategy assistance and ongoing support.
More precisely, managed services firms can help providers in three very specific areas:
- Data and analytics governance: Guiding organization and alignment.
- Data integration: Pulling together data from multiple sources and developing timely and transparent ways of sharing data.
- Deliver insights: Finding and applying truly actionable data from analytics.
In short, surviving – and thriving – in a new value-based culture has created a whole new area of expertise for providers who may not have the internal resources to devote to the work.
But managed services firms can assist with or fully manage the work on a day-to-day basis so providers realize the new rewards of a value-based era, including improved patient care and better clinical and financial health outcomes.
To learn more about partnering with managed services firms, download this new Optum Topic Spotlight.
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.