Mitch is the CIO of a healthcare organization. His team keeps the network running, the applications accessible and the data free from cyber threats. Confident in his team’s ability, Mitch turns his attention to another challenge...
While data impacts every part of a healthcare organization, its impact is strongest in finance and medical management. Finding true data insight is so hard that the average healthcare organization loses 30 percent of the reimbursement value for at-risk populations because of inaccurate HCC capture and documentation1. The inability to find data insights impacts care too. A Canadian study found that 38 percent of a diagnosed diabetic population did not have a diabetes diagnosis in their medical records. The diabetes was only identified by the presence of the diabetic medications themselves2.
The problem is that the data is largely inaccessible. That’s because 80 percent of world’s healthcare data is unstructured3, making it difficult to index and search. Even more importantly, half of physicians stated in April 2018, that access to patient data could be much better4. These data challenges will continue to grow with new data sources. In 2020, 25 percent of data used in medical care will be collected and shared with healthcare systems by the patients themselves5.
Mitch knows that a data warehouse could help normalize the data and make it accessible. Knowing that Gartner estimates that 85 percent of big data projects fail6, he wants a fail-proof solution. He chooses a solution that integrates data into a single source of truth in weeks, not months. A solution that is out-of-the-box.
That same out-of-the-box solution helps Mitch deliver real-time clinical and financial insights that inform HCC coding, HEDIS and Star compliance, and patient care gaps analysis. He uses the customizable dashboards to help the care team identify patients at-risk, as well as population and provider trends. Those same teams can drill down into individual data points quickly to drive personalized care programs, improve outcomes and keep costs low while mitigating financial risk.
Mitch partnered with Hexplora, the only company that delivers accessible and actionable data insights to maximize revenue today while delivering the foresight to thrive with value- and quality-based models. It includes a cloud-based data warehouse, easy-to-use standard healthcare reports and customizable dashboards to deliver a single source of truth from an out-of-the-box data foundation. Unlike solutions that require IT support and frequent re-prioritization, Hexplora stands up in weeks to inform short and long-term decisions across clinical, financial and quality strategies.
1 What Your CFO Needs to Know About Risk Adjustment. Advisory Board, April 27, 2017. Howard, Brad, MD, MBA.
2 HIMSS16 presentation sourced data: Canadian Medical Association Journal.
3 Modernizing Healthcare IT for the Data-Driven Cognitive Era. Storage and Software-Defined Infrastructure. IDC InfoBrief, April 2018.
4 Physician Perspectives on Access to Patient Data. Surescripts, April 2018.
5 Modernizing Healthcare IT for the Data-driven Cognitive Era. Storage and Software-Defined Infrastructure. IDC InfoBrief, April 2018.