Value-based care is a growing part of the healthcare world that isn’t going away any time soon. If anything, this concept for insurers paying providers based on the quantity of services rendered will become even more common. For that reason, it’s vital that healthcare facilities have the capability to calculate the total cost of each service they provide as well as the total cost of the care given to each patient. Hospitals and other providers unsure of their ability to determine these costs accurately and quickly, big data and healthcare management systems can fill a vital role.
“Using the right approach to big data can help healthcare providers address value-based care concerns.”
Using big data to determine concrete numbers
Jennifer Goforth Gregory, a technical writer for the IBM Big Data & Analytics Hub, said it’s common for healthcare providers to have issues nailing down the total cost of care for individual patients. A driving factor behind that difficulty is the lack of integration between the many systems used to track, organize and hold data throughout a single facility or healthcare system. Between the near certainty of a provider using multiple systems that contain different dimensions of data and the likelihood that a provider is made up of many separate, smaller facilities and offices, determining exactly which elements of care a patient received can be complex and confusing.
Using the right approach to big data in concert with an effective healthcare management system to integrate the many existing platforms – and potentially replace some or many of them entirely – can lead to significant benefits. A single source of information makes efforts like calculating the cost of care provided to each patient a more manageable task. With the mandated shift to value-based care strongly in place, providers need to reconsider how they handle their data. Using an advanced solution to automate certain functions, eliminate incompatibilities between systems and provide a clearer picture of operations, patients, care and associated costs can put healthcare facilities in a position to succeed.
Aviana offers providers across the healthcare spectrum the opportunity to improve operations and craft a more effective approach to value-based care through the power of big data. Our experience in the healthcare industry means we understand the unique challenges facilities face in terms of big data and can address them effectively. To learn more, view our healthcare industry solution video series, offered in convenient on-demand format.