Transforming raw data into actionable information is crucial to the financial future of provider organizations, especially as pressure builds on providers to align their care delivery approach with value-based care and consumerism in healthcare.
However, many providers lack the time and money to implement this critical function. Fortunately, the right technology can assist providers in getting the most out of their data while freeing up resources better used for patient care.
Providers must be prepared to retool their financial and clinical strategies in light of industry-wide changes.
Approximately 59 percent of healthcare dollars are already tied to value and/or quality, according to a recent report from the Health Care Payment Learning & Action Network (LAN). Value-based reimbursement also accounts for nearly one-half of business (47 percent) for major payers and health systems, including the likes of Cleveland Clinic, Geisinger, and Partners HealthCare.