How Value-Based Payments and Analytics Work Together

Big data and analytics in healthcare are growing trends in 2015. Transitioning to value-based payment is just the beginning of healthcare delivery, and one organization, Mayo Clinic Health System (MCHS) is demonstrating why this a smart strategy.

According to a recent whitepaper released by MCHS, management saw a need to move from a “transactional view of [EHRs] to a robust population analytics view.” And so they turned to an analytical model of understanding patients and patient populations. MCHS hoped that by leveraging the data effectively, their organization could better “prepare to assume financial risk and responsibility, and succeed in managing population health.”

And so far it’s working. The data provided in the analytics has allowed leadership at MCHS to see ways in which they could help manage the health of their population. Proactive chronic disease management is one such method. Additionally, big data and analytics have allowed the clinic to understand their population when it comes to payments. Being armed with that knowledge has allowed them to “meet the payers as equals in contract negotiations,” where they previously had been at a disadvantage.

While it’s obvious that big data and analytics prove to be helpful to the overall function of an organization, according to the whitepaper, “the fact is, [transitioning to a value-based payment] will require proactive patient and population management informed by the most robust possible knowledge of patients’ clinical and financial risk profiles.” MMY can help you achieve that.

MMY has proven to be not only experts, but leaders in gaining a bigger and superior understanding of the population your organization serves and harnessing that knowledge to serve them better. Our solutions enhance what you do and help to make your organization more efficient, more effective, and more successful.

 

Contact us today to see how we can help.