Breaking Down Silos Leads to Better Outcomes and Lower Costs
EHRs, mobile devices, wearables, claims data, and population health analytics can create enough insight for healthcare to improve outcomes at lower costs. But as the use of technology and data increases within healthcare, the challenge of effectively using that data also grows.
The problem is that data exists in silos and is not integrated within an organization or shared across organizations.
The McKinsey Global Institute estimates that the volume of healthcare data and the industry's inability to take advantage of it, for whatever reason (HIPAA, old technology, business strategy, etc.) leads to potentially more than $300 billion annually in wasted value.
While there is much investment in innovation and a consistent pipeline of disruptive applications in the marketplace, few effectively connect the key constituencies, which is what the industry needs more than ever.
The first step is better collaboration amongst payers and provider organizations. For payers and providers to align on shared goals, critical data must also be shared to enable providers to understand and even anticipate their patient's health status. Both administrative and clinical data can contribute to providers taking important proactive steps to get or keep their patients healthy. Without it, all parties acting within the healthcare industry are just taking steps with limited information available to them.
Health plans that make accurate data in real-time directly available to their members and physicians within their networks benefit from greater efficiency. Customer service representatives spend more time efficiently resolving individual queries or speaking with more members on a daily basis, for example.
For members, it means they walk away from a shorter conversation with the right information or go in armed with the correct data to have a productive call – no frustrated call-backs necessary. The downstream impact of this? Increased member satisfaction and greater likelihood of follow-through on care plans or better medication adherence to stay healthy.
Healthcare has a formidable challenge that persists: break down the silos between all key stakeholders. Only with technology that provides accurate data in real-time in a manner that is consumable by all will this occur. Of course, the players in the healthcare ecosystem have to want to collaborate and make the best use of these insights. Once that happens, better outcomes and an improved patient experience are inevitable.
Learn how HealthEdge provides customers with actionable insights to improve patient outcomes, lower costs, and increase transparency inside and outside the health plan.