The Use of Data
Data analytics is the current buzzword in healthcare, and rightly so. Access to actionable data combined with right analysis helps not only in predicting outcomes but also improves the ability of care teams to align available resources to what a patient needs. Although data is just a start and not an endpoint, it can be used in several ways to make the process of risk stratification less cumbersome.
A value-focused organization used Medicaid data, along with real-time hospital admissions, discharge, and transfer data (ADT) from about 80% of hospitals across the state to provide more than 1800 Primary Care Practices with insights into patient risk status and population health trends. Their efforts resulted in a 5 percent drop in total Medicaid costs along with a 26 percent reduction in inpatient admissions and half the number of preventable readmissions within the last one year.
The Road Ahead
Risk stratification is a catalyst for developing successful population health management plans. Only an effective implementation of risk stratification combined with communication and monitoring will guarantee appropriate patient-centric care. The availability of data is not an issue; even the access to data is a challenge that can be resolved. The real challenge is transformation - it needs more than analytics and insights; it calls for actionable plans from providers, payers, and patients.
About The Author
Abhinav Shashank is the CEO and Cofounder of Innovaccer Inc., a Silicon Valley - headquartered healthcare analytics company.