This webinar complements the release of our latest report, the 2017 Healthcare Analytics Market Trends Report. To learn more about the report or to purchase, please click here. If you’d like to download these slides, feel free to do so here.
A key purpose of the analytics applications described in this report is to help healthcare organizations (HCOs) cope with the transition to new payment systems while maximizing revenue – whether in the form of traditional FFS reimbursements or value-based payments. A secondary objective is to help HCOs reduce medical spending by identifying unnecessary utilization. The pace of this transformation remains uncertain and HCOs of all types straddle the two different payment regimes of FFS and VBR.
We found a common product approach among all the vendors surveyed. In short, all of the healthcare analytics solutions aggregate a longitudinal patient record based claims and EHR data. This provides the basis for an analysis to determine which patients to focus on for performance improvement programs. It also enables reporting for the purposes of quality and cost improvement efforts. Finally, these applications support the ability of HCOs to refer patients to care management programs.
The development of robust data analytics capabilities that can provide comprehensive solutions for PHM and care coordination are still likely several years away. Today, most HCOs’ analytics efforts are squarely focused on bridging the gap between FFS and VBR. The analytics vendors described in this report are dedicated to providing their customers a way to transition to VBC. Near-term, the focus remains on reporting on quality metrics and care gaps, utilization and costs, and modes-predictive capabilities. But leading institutions are beginning to meld clinical, operational, financial, structured, and unstructured data to understand the costs and outcomes of care delivered across the larger community they serve. The amount and variety of data, as well as its value, is set to grow dramatically in the coming year.