How to Stop Drowning in Data and Start Acquiring Knowledge
“Big data alone doesn’t guarantee actionable knowledge.”
Two events provide convincing evidence that the movement to value-based payment is accelerating.
On January 26, 2015, Health and Human Services Secretary Burwell announced measurable goals and a timeline to move the Medicare program, and the healthcare system at large, toward paying providers based on the quality, rather than the quantity, of care they give patients.
On April 16, 2015, President Obama signed into law H.R. 2, the “Medicare Access and CHIP Reauthorization Act of 2015” (MACRA), which reforms Medicare payment policy for physician services and adopts a series of changes affecting a wide range of providers and suppliers. MACRA includes clear financial incentives for healthcare professionals to participate in alternative payment models over fee-for-service reimbursement.
The white paper, “Drowning in Data but Starved for Knowledge,” addresses three challenges that healthcare providers face when utilizing data, and offers strategies to help adapt to this new reality:
• First, they must manage the deluge of data needed to support informed decision-making.
• Second, they must leverage analytics that look beyond the simple answers that point to a short term shift in site-of-service to true care redesign that is informed by population insights.
• Finally, they must manage the tension between effective and efficient care as they implement change. The organizations that will thrive will be those that ask the right questions at the outset.