Having the whole picture is an advantage we don’t always appreciate. Imagine you’re a hiker faced with an ascent you’re not sure you can manage. If you had access to a panoramic view rather than the mountainside you’re facing, you could probably locate a better route to the top. It’s the same with healthcare organizations —without comprehensive information, managing multiple interrelated drivers of value-based contract success can be daunting.
Lack of a 360-degree view of their organization is perhaps the biggest challenge healthcare executives encounter as they move toward value-based care. They have data from a variety of clinical and financial sources, but integrating and analyzing it to create the information they need can seem a Herculean task.
Yet a holistic approach is precisely what is needed. As healthcare executives now understand, successful management of a value-based organization requires viewing the system’s financial status as a whole.
The challenges facing health organizations and networks are outlined in our new white paper, Value-Based Care: Evaluating Contract Profitability. The paper looks at the various levels on which executives are being asked to analyze data (including care setting, population and episode), as well as the significant obstacles to quality analysis. The shortage of qualified analysts—severe and likely to get worse—is also discussed.
The paper offers advice to healthcare executives in the midst of addressing these issues. It details the value-based care analyses needed to evaluate episode, population, operating unit and contract profitability and recommends methods to address data collection for financial and quality projects. It explores the limitations and functional gaps of analytical solutions that are not designed for the healthcare industry, and explains how trusted advisors can shore up implementation, integration, training, report development, and analytical efforts in the face of personnel shortages.
That 360-degree view seems remote as healthcare executives slog through mounds of data, system integration and quality-metrics projects. But with the right tools and advisors, the view from the top may be closer than you think.
Download Value-Based Care: Evaluating Contract Profitability white paper.
We hope you will find this helpful on your journey in leveraging analytics to successfully manage value-based care in your organization.Download White Paper Now!