In my recent series of posts, I’ve been exploring various approaches to value-based care (VBC). Here I’ll delve into Accountable Care Organizations (ACOs) and their importance in the value-based landscape.
The ACO model represents what’s arguably the most progressive approach to delivering both care and value. It stands out in terms of its potential to significantly shift not just how care is provided, but how resources are allocated to assess and improve the well-being of a population. In effect, the emphasis is on “health” as opposed to “healthcare” in the traditional sense. (more…)
Lately, I have been thinking about the transition to value-based care in terms of a journey and envisioning an automobile dashboard as a means for presenting the most relevant information from perspectives that change throughout the trip. For example, a vehicle dashboard equipped with GPS can give “turn-by-turn” navigation while also measuring overall progress toward the destination. It can also provide the driver with visibility into different collections of helpful measures at a glance, and assist the driver in optimizing the trip plan based on priorities such as taking a scenic route versus the fastest one.
Similarly, analytics – done well – can give healthcare organizations visibility into their incremental (“turn-by-turn”) steps toward value-based care, exposing opportunities for course corrections while also showing how each step fits into the broader context of the entire journey. Here’s how. (more…)
Trust is the foundation of all good relationships—and not just between people. Trust in data is essential for healthcare organizations. This is especially true as the move toward value-based care demands increased, high-level collaboration among different constituencies within a healthcare enterprise.
As care migrates away from straight fee-for-service, healthcare organizations must weigh investments, risks, and tradeoffs objectively with quantitative, trustworthy data. This kind of data driven decision-making will be critical to shaping the initiatives and high stakes choices required by value-based care. In this blog, I will detail three steps you can take to build a trusted data foundation. (more…)
Value-based care is quickly moving from “talked about” to “reality” in healthcare. As providers are implementing new value-based arrangements, there are a lot of issues that are coming to light that may not have been fully thought out or realized before.
Stakeholders from across the healthcare ecosystem discussed several of these realities recently at Xtelligent Media’s Value-Based Care Summit, held in Boston. While I have a notebook filled with takeaways from the event, here are a few themes that stood out on what providers need to be cognizant of as we move to a more value-based world. (more…)
The ground is shifting beneath the feet of healthcare leaders. The United States is inexorably moving toward value-based care, requiring healthcare organizations to start laying the foundation for more holistic, proactive, and population-oriented care. But today’s margins depend on the “piece work” model of fee-for-service, treating people primarily when they are already sick.
From 1990 to 2007, the U.S. government increased healthcare spending by about $1 trillion. The problem with this statistic is that once figures reach thirteen digits they begin to sound like monopoly dollars. To put it another way, this 18-year period saw an annual growth rate of 7.3% in healthcare spending, which is more than double the 3% annual growth in real GDP.
Value-based care has emerged as one way to try and combat the rapid growth in healthcare spending. While the emphasis on quality holds promise for patient care, it has created financial challenges for hospitals. Let’s examine the impact it has had on the revenue cycle. (more…)
Over the five years I’ve worked at Dimensional Insight, I’ve met several of our customers either in person at one of our user events or over the phone as I’ve talked to them about customer success stories. It’s only recently that I’ve started to go out on the road to meet our customers where they work – and this has provided me with a whole new perspective as I write our user stories.
I visited Salinas Valley Memorial Healthcare System (SVMHS) on a sunny California day in January (the perfect respite from what was then brutally cold Boston!) to talk to Audrey Parks, CIO, and Tim France, programmer. What followed was a great conversation about the challenges the health system faces, where healthcare is going, and how Diver can help the organization get there. Here are some highlights. (more…)
Hospitals & Health Networks (H&HN) magazine recently announced its 19th annual Most Wired survey honorees, and I’m happy to report that several of our customers made the list! Congratulations to our 20 healthcare customers that were honored.
The annual Most Wired survey measures the level of IT adoption within hospitals and health systems. In addition to providing a list of hospitals and health systems that meet the criteria, H&HN also provides some interesting data with the survey. Here are a couple of points that stood out. (more…)
Healthcare is inarguably facing some of the most daunting challenges today, with the potential repeal of the Affordable Care Act (ACA), the uncertainty of the American Health Care Act (AHCA), numerous other regulations with which providers must comply, new payment models, and much more.
At our recent Dimensional Insight Users Conference (DIUC17), Julie Beard from KLAS Research spoke at a couple of our breakout sessions about some of the biggest healthcare challenges providers indicate they are facing today and where the industry is headed. (more…)
The American Health Care Act (AHCA) is on the minds of many healthcare professionals since the bill passed in the U.S. House and since the Congressional Budget Office recently released its score on it. As a result, the implications of the bill were front and center at the ACHE of Massachusetts Spring Conference, held on May 25th at the Sheraton Framingham.
In addition to the AHCA, the half-day conference also focused on how leaders are adjusting to the “new reality” of other aspects of healthcare. These aspects included new forms of reimbursement, a focus on quality, and how hospitals survive in a world of both consolidation and fragmentation. (more…)