Is it possible to be awash in data and still not have the information you need to effectively manage your organization?
Yes, the data you need to successfully manage your organization is contained in multiple software solutions, often in multiple formats. Accessing and normalizing data for successful analysis is a Herculean task, particularly without powerful tools and personnel with deep domain and analytical expertise.
Studiomaca has been working with customers on value-based care for more than fifteen years.
What we’ve learned:
- When considering the analytic capabilities needed to successfully manage a healthcare organizations move to value-based care, it’s clear that executives need to evolve past the focus on individual elements of the care continuum to consider the universe of patients, providers and care settings and how they interact on multiple levels.
- To thrive in a value-based contract environment, healthcare organizations need information that allows them to understand performance and manage multiple interrelated objectives.
- Successful population health management requires analytics at the population level for the patients covered by a value-based contract.
- Maximizing operational effectiveness relies upon the ability to understand and manage the full spectrum of care settings and evaluate the performance of each unit through detailed cost accounting. Since each operating unit contributes to both system-level value based contract performance and bottom line financial performance, decision makers must understand the interplay between operating units and population risk performance to evaluate global system results.
For more advice on how to approach gathering quality and cost-related data, we’ve compiled a white paper (PDF, 577 KB).
In this white paper:
- Challenges involved with performing population-level analyses, developing cost accounting and profitability analyses across care settings, evaluating care episodes and integrating quality data.
- Limitations of targeted software solutions to provide cross-enterprise insights.
- Advice for healthcare executives regarding how to approach gathering quality and cost-related data and leverage technology and analytical expertise to drive risk-based contract success.
(PDF, 577 KB)