You’ve heard it a billion times. While volume previously defined success, providers must now enhance care quality, increase practice efficiency and lower per capita costs to achieve the Triple Aim. Such a transformation is daunting – you’ve probably heard that, too. And it’s why another key healthcare aim has emerged – provider satisfaction.
So how do we best help providers while also empowering them with the tools needed to successfully transition to value-based care? Contrary to the past decade of transactional relationships between customers and vendors, a new approach is needed that puts collaboration among payers, providers, patients and industry at the heart of innovation.
This is the way we’ll close the gap between value-based talk and Quadruple Aim achievement. Collaborative innovation – the coordination of workflows and the seamless exchange of data – is the actionable way forward.
Payer and provider collaboration, facilitated by data-driven tools and analytics, is one of the keys. Equally affected and challenged by the transition to value-based care, payers and providers are seeking a seamless and interoperable exchange of data, understanding that such integration of workflows will support the delivery of quality care and the associated reporting of quality measures with little to no extra effort.
Payers have been analyzing claims data for years, creating risk models, and gleaning financial insights to gain a deeper understanding of their membership and provider network performance.
Now, we all face an explosion of rich clinical and administrative information. Indeed, a Markets and Markets report projected that from 2012 to 2020, healthcare data will grow 50 times. What good is the data if it cannot be used?
At the same time, the new payments models create shared incentives for payers and providers. What good are the incentives if they cannot be achieved?
Together, we must craft a sustainable solution that harnesses the data to enable achievement while reducing burden on the providers.
At the MGMA 2016 Annual Conference, I heard leaders across the industry echo the importance of providers and payers connecting their data sets to close gaps in care and provide accurate and comprehensive clinical information about each patient. What they are looking for are more comprehensive solutions that will make an impact, and we were proud to share some of the work coming out of GE Healthcare Digital.
Inherent in its name, our Payer Provider Connect solution enables secure and immediate data exchange to help optimize accuracy and reduce operational costs for payers and providers automatically, without extra work by payers or providers. The systems can now work for the people, and stop the people working for the systems. With improved collaborative innovation, we are now on the road to deliver upon the Triple Aim while setting the foundation for the Quadruple Aim.
Perhaps achieving the Quadruple Aim is closer than we think.
Let’s keep driving progress …… together.