Health system leaders find themselves at a critical juncture, tasked with accelerating their organizations’ drive toward the promise of value-based care (VBC).
VBC calls for providers to focus more on quality of care, provider performance, and the patient experience. Yet, many are ensnared in a labyrinth of fragmented data, hindering their quest for insights.
Value-based care ties the amount of money healthcare providers earn for their services to the results they deliver for their patients, such as the quality, equity, and cost of care. Through financial incentives and other methods, value-based care programs aim to hold providers more accountable for improving patient outcomes while also giving them greater flexibility to deliver the right care at the right time. 1
But amidst the chaos, there is a glimmer of hope in the form of robust Data & Analytics Platforms that not only collect and collate data, but also serve as navigators through a sea of patient information, revealing new insights, advanced analytics, and opportunities.
In this envisioned future, healthcare leaders don’t react to challenges, but anticipate and conquer them with tools that offer clarity and creativity. Armed with a complete view of performance metrics and a dash of imagination, they can better navigate the waters of VBC with more confidence and precision.
Challenge:
Today’s healthcare leaders face a daunting adversary: fragmented tools that obscure rather than enlighten. With scattered data sets and narrow perspectives, they struggle to identify key patient populations, resorting to guesswork in a high-stakes game. This approach, evidenced by the staggering $760 billion to $935 billion wasted annually 2 on healthcare inefficiencies, is a costly gamble we cannot afford.
A new study by Arcadia, a healthcare data platform, reveals that while 80% of healthcare leaders believe most of their data is accurate, a staggering 47% remains underutilized for critical clinical and business decisions.3 There is colossal potential of healthcare data applied to VBC, but it remains largely untapped.
Solution:
Panda Health has meticulously evaluated Data & Analytics vendors, identifying those offering actionable insights and clinical, operational, and financial insights.
The vendors in this category offer integrated solutions that optimize outcomes and harness the power of artificial intelligence. These platforms are tools and strategic solutions that can help deliver better health and financial sustainability.
For example, one platform provides prospective views of patient and population health with dashboards and self-service data exploration tools that identity avoidable clinical risks including gaps in care, ER overutilization, opioid abuse, and onset of emerging diseases.
Another platform can access, organize, and analyze large structured and unstructured data sets to identify opportunities more quickly for VBC performance improvement.
But the journey doesn’t end there. As the digital health landscape evolves, VBC strategies must also be enhanced. From tailored analytics to bespoke clinical support systems, the possibilities are endless for those willing to explore.
Explore the vendors and insights of Data & Analytics Platforms in the Panda Health Platform. Join today to start connecting and exploring!
1 Commonwealth Fund, 2 Fierce Healthcare , 3 Healthcare IT Analytics
