Four Key Insights to Provide Value-Based Care

By CIOReview | Monday, November 19, 2018

Industry disruptions and the transformations of business models are familiar nowadays. Similarly, in the field of healthcare, value-based healthcare is a delivery model wherein hospitals and clinicians are paid based on patient health outcomes. Data and analytics have high potentials to help in improving the healthcare system and clinician performance. This approach of value-based service focuses on ‘value’ derived from value-based service rather than the cost of delivering. Below mentioned are a few steps that should be adopted when applying data to improve healthcare outcomes.

• Prioritize data: Healthcare platforms have a huge amount of data, therefore, choosing which dataset, to begin with, can be difficult. Therefore, healthcare professionals can start with a small data set which is much trusted and standardized. While opting for a smaller set, experts can expand their clinical knowledge from there instead of opting for a large data set and not being able to dig out anything from it.

• Allocate Resources: Healthcare Organizations are managing their business with a limited amount of financial investment and human resource. By leveraging modern analytics, those resources can be focused on areas that produce the greatest ROI. For Instance, predicting and identifying opportunities that will have a great clinical or financial outcome, healthcare organizations can determine how likely it is to reduce emergency department visits if care gaps are closed with specific patients.

• Physician leaders can communicate well: Interacting with a physician in person can be an effective way to explain data results, also the person who is delivering the information should be someone, the physician could easily relate to. Experts say that it’s better to find clinicians, nurses or doctors who have a strong reputation and relationship within an organization.

• Delivering personalized care:  Delivering personalized care tends to result in a more effective way. However, this, the methodology can be developed by categorizing people into varied customer types which means based on like attributes such as gender, age, income, and education. By knowing the various consumer types, healthcare organizations can develop, evaluate and market the care management programs. Organizations must make sure that there should not be a barrier which is difficult for the patient to overcome and hinders the process of personalized care.