Discover how advanced analytics help efficiently and realistically manage cost and quality of care!
As data accessibility increases, so are the challenges around delivering the data to make meaningful changes. It’s imperative that businesses like yours implement a healthcare analytics tool to simply draw insights that help make crucial business decisions that directly impact the cost and quality of care delivered for success.
The Benefit of Transparency From Healthcare Analytics
Healthcare analytics play a critical role in making data meaningful and actionable. As the healthcare ecosystem evolves, payers and providers must collaborate and share information with each other to provide quality care at the appropriate costs. This transparency through healthcare analytics drives more effective population health management through:
- Enabling care teams to understand the needs of their populations to ensure the right service is performed by the right provider at the right time.
- Quickly identifying outliers to target for outreach and proactive management.
You are potentially responsible for all the medical costs associated with patients and need the same level of transparency in order to know where to focus efforts to manage medical loss ratio and minimize risk. You will be more successful at engaging providers to use an analytics solution if it is flexible and able to manage multiple contracts, offering both a macro analysis and the capability to drill-down to individual physicians or patients.
Five Critical Enablers of Transparency for Successful Value-Based Strategy
The following five enablers of transparency will help you collaborate with payers more effectively to deliver a successful value-based reimbursement strategy.
- The capability to tie financial and clinical performance together to identify and address clinical drivers of cost and quality
- A holistic view of a patient across the duration of care to fully understand and make decisions based on medical care needs
- The ability to track and manage quality measures linked to specific providers as well as identify gaps in care
- Predictive modeling to stratify the population by projected cost, risk, and chronic conditions
- Performance metrics for better visibility into quality outcomes as well as cost and utilization patterns of providers to identify outliers
What to Look For in an Effective Healthcare Analytics Solution
When you are evaluating vendors for a comprehensive healthcare analytics solution, consider the following attributes:
- Seamless and Rapid Data Ingestion Process: Streamlined approach for rapidly collecting data through machine-to-machine capabilities within days rather than months. The sooner you access your data meaningfully, the sooner you can begin putting your data to work.
- Multi-Payer and Multi-Provider Views: Ensure that the solution allows for multi-payer views for providers managing multiple at-risk contracts and multi-provider views for payers who collaborate with multiple provider groups.
- Ease of Use: To maximize the value of your analytics solution, you need a tool that provides user self-service and guides discovery, enabling end-users to quickly identify root causes of high costs, over-utilization, and poor performance.
Clinigence Health provides turnkey healthcare analytics solutions that transform massive amounts of data into actionable intelligence overcoming the challenges of transparency today. Our software-as-a-service (SaaS) solutions provide dynamic interactive reports, dashboards, and visualizations that help healthcare organizations improve the quality and cost-effectiveness of care, enhance population health management, and optimize provider networks.
Contact Clinigence Health today to see how we can help you reach your objectives on the path to value-based care!