Particle Health explains why data is essential for successful value-based care. Leveraging data effectively can improve the quality of care and patient outcomes while reducing costs. When it’s all about value-based care, data is the secret sauce that makes it work.
As the healthcare industry continues to move towards value-based care (VBC), it's becoming increasingly evident that success in the VBC landscape depends on having a robust data strategy that enables healthcare providers to access, analyze, and act on data in real-time. In this article, we'll explore why a scalable data infrastructure is critical, along with the different ways that data can be leveraged.
Value-based care is a healthcare delivery model that represents a shift from reactive to proactive care. Under this model, providers are paid based on the outcomes of their patients and the quality of the care provided. By incentivizing organizations to keep patients healthy and out of acute care, VBC enables lower costs and better results. However, achieving this goal can be challenging, and that's where data comes into play.
Value-based care without access to comprehensive data is like trying to navigate a maze blindfolded. Providers need complete and accurate patient data in order to understand and mitigate the actual amount of risk that is taken on with each patient. Fragmented data leads to unnecessary overspending in several ways:
In value-based care models, where the goal is to improve patient outcomes while controlling costs, fragmented data undermines these objectives. The 21st Century Cures Act made data exchange table stakes for all healthcare organizations, but data exchange on its own between an individual practice and a hospital isn't enough. Value-based care organizations need integrated information from all possible sources in order to be successful. True interoperability creates a holistic view of a patient's health, enabling healthcare providers to quickly access and share data seamlessly across different systems.
When consolidating medical records from multiple sources, ensuring data quality is critical. The value-based care model prioritizes quality outcomes, not the number of tests performed or how many patients are seen in an hour. The only way to report on those outcomes—and get paid for the services provided—is through quality data. When you understand the patterns in your data and patient population, you can jump on trends before they turn into costly problems.
Once you’ve built a foundation of high quality, interoperable data, you can leverage this information to deliver better care, reduce spending, and measure quality-based care metrics. For example, providers can quickly identify patients who are at high risk of readmission and provide them with targeted interventions to prevent future hospitalizations. Data can also be used to monitor broader population-based health trends, improve adherence of referrals, identify patients at a high risk of developing certain diseases, and highlight areas where costs can be reduced without compromising the quality of care. For example, patients who are using unnecessary services, like someone seeking frequent emergency room visits for non-emergency issues, can be redirected to more appropriate care that is cost-effective.
As technology continues to advance and healthcare data becomes more widely available, the role of data in value-based care will continue to evolve. However one thing is clear: a unified data ecosystem is necessary. Looking ahead, here are some of the future roles that data may play in value-based care:
As the healthcare industry continues to shift towards value-based care, it’s crucial that organizations choose a strong clinical data partner that can help unlock ongoing value from data over time. Collaborating with a partner who can focus on insights allows providers to focus on the patients, not the data. Particle’s data platform connects your organization to the whole patient story - we're talking deduplicated, well-formatted, usable data through a single API integration. Reach out to our team to learn more about how Particle Health can accelerate your success in the value-based care space.
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