In our data-driven world, one thing is certain: we have a lot of information. That is as true in healthcare as it is in almost every other industry. While healthcare has lagged behind somewhat in terms of adopting and harnessing the power of data, that trend is shifting.
But one problem that many healthcare delivery organizations and stakeholders still have is the question of how to organize all the information available and what to do with it once it’s in your software system.
Many entities today can pull data from multiple sources, including EHRs, claims data, social determinants of health information, government surveys, and more. Figuring out how to make sense of the information and take actionable steps toward better quality care is the next challenge.
In the words of Benjamin Franklin (though we can be pretty sure he was not referring to data analytics), “Never confuse motion with action.” Success in healthcare today requires the motion of collecting and aggregating data, and the action of translating it into meaningful steps that improve care.
At Cedar Gate, we believe in the power of analytics. Not just to inform us about what’s happening within our healthcare system, but to help people make better decisions that will reduce costs and improve care quality.
In a value-based care world, that begins with the ability to select the VBC model that makes the most sense for each organization. Within our Value-Based Care Analytics software we offer actuarial modeling technology that helps organizations analyze VBC contract parameters – without costly analyst overhead – and negotiate terms that make sense based on factors such as:
Healthcare delivery organizations (HDOs) get information from multiple, disparate data sources. It must be combined and normalized to provide applicable insights to deliver care and optimize revenue cycle management in new and innovative payment models. Cedar Gate’s analytics software is fully integrated with our proprietary Enterprise Data Management system (EDM).
The EDM pulls information and data from dozens of sources, then cleanses, normalizes, and enhances the data so it’s available across the entire platform. Your staff never have to manually input or manipulate data to get it into a format you can use for analysis. Our rigorous QA standards ensure that every file is validated during processing, and any issues are immediately resolved.
Ultimately that means analytics insights from continuously refreshed, high-quality datasets so they are valuable and actionable.
Once you have the information to improve care delivery and revenue cycle management, the next step is making sure everyone on the team has access to that information. Cedar Gate makes it easy to share analytics insights both internally and with external care partners.
It begins with rich visualizations on an easy-to-read (and completely customizable) dashboard. Drill down into specific datapoints to see more detail or better understand root causes of variations before you feel the impact in your clinical services or financial bottom line.
Set up automated reports to go to key stakeholders at specified intervals. Reports are designed in the same easy-to-digest format so everyone is on the same page, and teams can make better decisions on patient care, member services, and operations. Set up reports to view trends, compare data from prior performance periods, and benchmark against industry standards using our proprietary member population datasets in our Healthcare Benefits Analytics application.
Making these changes is not optional, so it’s time to either march forward on this journey or fall behind. Let’s turn the page on healthcare history together.
