02 Nov Black Book Poll: Health Payer Executives Seek Enhanced Data Analytics
As highlighted in a new Black Book poll, healthcare organizations are looking to improve the quality of their data assets by actively seeking ways to leverage data for clinical analytics and population health management.
Specifically, 93 percent of hospital and physician financial executives believe it is critical to explore new ways to use data analytics to support value-based reimbursement and meet the demands of consumerism.
The study points to how clinical documentation improvement (CDI) programs play a major role in providing significant increases (over $2.1M minimally) in appropriate revenue and proper reimbursements.
“CDI is a key step in dramatically improving operational efficiency in healthcare organizations,” said Doug Brown, managing partner of Black Book, in his press release. “Failing to address flaws in documentation processes has resulted in higher incidences of errors, financial losses and diminished patient care, and struggling hospitals will not survive on that old path.”
In addition, 88 percent of hospitals confirm documented quality improvements and increases in case mix index within six months of CDI implementation. The survey of hospital technology, financial and physician leaders also found coding and clinical documentation improvements are now imperative.
With regards to data analytic solutions for payers, IMAT Solutions was recently named a sample vendor Health Data Curation and Enrichment Hub in the Gartner “Hype Cycle for U.S. Healthcare Payers for 2018” report, which provides critical input for strategic planning by tracking the maturity and adoption rates of technology developments.
IMAT Solutions will be highlighting its payer solutions at the upcoming Texas Association of Health Plans (TAHP) Conference in Houston, TX, November 12th through 14th. Be sure to stop by Booth #325 to learn more about how IMAT Solutions can help payers best leverage data analytics to support value-based reimbursements.