How to Achieve ROI in Data Analytics Investments Among Highlights of SCIO Health Analytics’ Top 5 Blog Posts of First Quarter 2018 View as PDF
SCIO’s Analytics Experts Provide Insights on Care, Network & Reimbursement Optimization
WEST HARTFORD, Conn. – May 16, 2018 – SCIO Health Analytics today announced the Top 5 most-read posts on its blog, SCIOKnow, for the first quarter of 2018. The blog details how healthcare organizations can leverage data analytics to drive positive change in cost and quality through actionable insights that enable them to solve complicated problems simply and efficiently. In the following posts, SCIO’s experts cover a wide array of themes, including: strategies healthcare organizations can implement to make the most of their investments in data analytics, how to measure quality in value-based reimbursement programs, how brokers can leverage analytics to help employers optimize health benefits investments, methods of making business processes more dynamic, and what life sciences companies can do to achieve optimal risk adjustment.
1. 4 Ways to Make the Best of Healthcare IT Work in 2018: Healthcare’s mantra for 2018 is to make the most of what you’ve got. The mission for healthcare organizations will be to realize a strong return on investment on technologies that are already in place. To meet this goal, healthcare organizations will need to use data analytics more strategically than ever before. In this post, Rose Higgins, president, North America, lists four strategies for more optimal use of analytics, including moving beyond traditional claims and financial data, and elevating the use of “little data.”
2. Leveraging Data: Are We Moving the Needle?: Under value-based care, healthcare organizations are under pressure to improve quality resulting in improved clinical results. The problem: Many organizations are exerting considerable effort without really moving the quality needle in the right direction. This post links to an interview with HealthcareNOW Radio, in which Chief Evangelist David Hom talks about what healthcare organizations can do to better measure quality in value-based reimbursement programs and why the healthcare industry is likely to remain fragmented for a significant period of time.
3. 4 Ways Brokers Can Leverage Analytics to Help Employers Up the ROI on their Health Benefits Investments: Employers offer health insurance to recruit and maintain talent as well as to keep employees healthy and productive, but they still want to get the best return on their health benefits investments. However, brokers, are hard-pressed to offer employers proof of this return on investment – and even more pressured when it comes to helping employers actually reduce healthcare costs. In this post, Hom discusses how brokers can use more sophisticated predictive and prescriptive analytics to measure the effectiveness of health benefit program participation, demonstrate the ROI employers are generating and guide employers on opportunities to reduce costs across their workforce benefits.
4. Dynamic vs. Static Business Processes: 4 Differences: Healthcare business process outsourcing organizations typically stay inside well-defined boxes when trying to get work done, but what do they do if they want to move to the head of the class? Instead of sticking with the written-in-stone standard operating procedures, organizations should adopt “dynamic” processes – which are the opposite of the standard processes currently used. In this post, Arun Rangamani, senior vice president of care optimization and SCIOXpert Services, and Subha Vaidyanathan, vice president of technology and data management, detail four ways that dynamic processes stand in contrast to static processes.
5. Poll Results: Who is the Risk Adjustment Star?: Hierarchical Condition Category codes (HCCs) can be used to identify individuals with chronic illnesses and then assign a risk adjustment factor score that figures prominently in determining payment levels. Healthcare organizations must document HCCs or risk missing out on significant revenue. This post features poll results from a webinar on achieving optimal risk adjustment that was led by Tom Peterson, senior vice president of risk adjustment. These poll results offer insights into how life sciences companies are leveraging data analytics to gain a competitive advantage to get a handle on the future.
SCIO Health Analytics’ blog, SCIOKnow, covers all things related to healthcare data analytics solutions and services. The blog publishes on a weekly basis and features approximately a dozen authors who are subject matter experts in a broad array of topics, including population health, payment integrity, risk-adjustment, care management, opportunity analysis and incentive design, consumer segmentation and engagement, network performance and commercial effectiveness.
SCIO Health Analytics Contact:
Michele Norton, M.S., R.N.
Senior Vice President Marketing