Does your hospital’s clinical and financial data speak in different languages that mean different things to different people? In all probability they do. Are you doing enough to establish a logical link between the many datasets? In all possibility, you’re not because enough is never enough. Let’s understand this better.
The dynamics of the industry have shifted from ‘volume-based’ to ‘value-based’ model to drive quality of care, lower costs, and enhance the patient experience. Till 2010-12, the revenues of healthcare entities were pretty much predictable and they needed to maintain basic data. In 2012, data warehousing and analytics took a center stage when the CMS introduced its value-based payment programs along with penalties for high readmission rates. To transit to ‘value-based’ care models, healthcare systems now need to identify, monitor and analyze numerous metrics.
‘Value-based’ care metrics:
- Protocols: Hospitals have shifted their focus to deliver care through appropriate protocols to avoid lapses and penalties.
- Readmission: Hospitals keep track of readmission within a certain time period and consistently devise process improvements to lower the rates.
- Lowering turnaround time: There is an increasing commitment to improve the turnaround time to reduce cost and increase patient satisfaction.
- Mortality rates: The priority has now moved towards lowering mortality rates to avail financial incentives.
- Patient satisfaction: Patient satisfaction depends on every process of care, ranging from admission formalities to waiting time for emergency care.
- Cost variations: Hospitals are looking for ways to reduce variations in the clinical process to make the cost structure more stable and predictable.
Most health systems struggle when it comes to sorting, linking and retrieving clinical and financial data. To manage the huge volumes of data, health systems have embraced data-warehousing and analytics tools offering flexibility to source and sort data from multiple sources to generate meaningful sights.
Additionally, health systems are forming multi-disciplinary teams to initiate and drive process improvement programs. Improved financial, clinical and operational outcomes are thus a function of automation, collaboration, analytics and, Agile processes all of which are integrated into AcesoCloud solutions.
Delivering high-quality care while still being profitable has come to become an achievable reality!