Healthcare provider organizations are facing a major shift in the way they deliver care and are reimbursed for it. In 2022, the move from pay for service to value-based care brings new compliance requirements and the need for a more comprehensive approach to patient care. Data analytics and integration can play a crucial role in helping healthcare providers meet these requirements and provide better patient outcomes.
Cares Act Mandates
One of the new compliance requirements for healthcare providers is related to data sharing and interoperability. In 2020, the Centers for Medicare & Medicaid Services (CMS) and the Office of the National Coordinator for Health Information Technology (ONC) finalized new rules for data sharing, initially introduced by the Cares Act. These new rules require healthcare providers to share data with patients and other providers in a secure and timely manner, improving the coordination of care and reducing medical errors.
Value-based care focuses on the quality of care delivered, rather than the quantity of services provided. This shift requires healthcare providers to have a more comprehensive understanding of their patients, including their medical history, current health status, and any risk factors that may impact their health outcomes. To meet these requirements, healthcare providers must be able to gather, analyze, and utilize data from multiple sources, including electronic health records, claims data, and patient-generated data.
Improving Patient Outcomes Through Better Analytics
Data analytics can help healthcare providers gain insights into their patients’ health and make informed decisions about their care. By analyzing data from multiple sources, providers can identify patterns and trends, and make predictions about patient outcomes. According to a study by the Journal of Medical Systems, using data analytics in healthcare can improve patient outcomes by 30%. This information can be used to create targeted interventions and personalized treatment plans, improving patient outcomes and reducing healthcare costs.
Integrating data from different sources can also improve the accuracy and completeness of patient information, reducing the risk of medical errors. According to the Institute of Medicine, medical errors cause an estimated 400,000 deaths each year in the US alone. By integrating data, healthcare providers can ensure they have a complete picture of their patients’ health and reduce the risk of medical errors.
In addition to improving patient care, data analytics and integration can also help healthcare providers meet new compliance requirements, such as those related to the reporting of quality metrics and the use of telemedicine. According to a study by the Healthcare Information and Management Systems Society, organizations that use data analytics and integrate data from multiple sources are 50% more likely to meet regulatory requirements.
In conclusion, the shift to value-based care brings new challenges for healthcare provider organizations, but data analytics and integration can play a crucial role in helping them meet these challenges and provide better patient outcomes. By leveraging data, healthcare providers can improve the quality of care they deliver, reduce costs, and stay compliant with new regulations.