Value-based Healthcare and Effective Analytics Outlined in New Gartner Report
The healthcare provider data analytics landscape is evolving exponentially. The definition of advanced analytics has expanded from dashboards and exception reporting, to include complex features such as adaptive intelligence, machine learning, and personalized medicine.
Gartner analyst Laura Craft, in the report Transitioning to Value-Based Healthcare: Building Blocks for Effective Analytics, describes the realities CIOs face today in an environment of value-based healthcare and why they must adapt to meet the needs of population health management, risk management, clinical effectiveness, and cost improvements. According to the report, given the volume and variety of new information sources “most CIOs still do not have the analytical capabilities needed to succeed in the emerging value-based reimbursement market.”
Sustainable improvements supported by analytics and data-driven decision making requires an organizational shift that views improvement as a part of the culture. Gartner defines analytics as a program, not a project, stressing the need for investments in people, processes, and platforms.
The report stresses that it’s time for healthcare systems to review their data and analytics capabilities. Chief among what CIOs should consider is the Logical Data Warehouse (LDW), identified in this Gartner report as “one of the single most important concepts CIOs must embrace to be successful with analytics in today’s reality. The LDW is an information ecosystem that enables a broad variety of use cases, with flexibility to adapt to new requirements and needs.”
The number of business drivers with analytics implications is significant, leading to a long list of capabilities that are imperative for CIOs to prioritize, including tools for:
- Population health management
- Enterprise clinical and financial data integration
- Improved business intelligence
- Measuring the complete patient experience
- Handling explosive growth in digital data volumes
- Creating dashboards with integrated data analytics and modeling
- Better point-of-care
- Handling increased demands from government reform and regulation
- Improving the picture of competitive opportunities
Other key messages from the report add some urgency for CIOs to get these tools in place:
- “Healthcare systems across the industry and around the world continue to be challenged by a rapidly evolving healthcare world that is dealing with complicated and colliding market forces driving the first fundamental change in the healthcare delivery model in some 70 years.”
- “Because provider organizations will have endless volumes of data to work with and requirements to satisfy, decisions must be made deliberately, guided by a consistently applied set of criteria.”
- “Most providers have some existing portfolio of reporting and analytics supporting operational excellence, clinical effectiveness, patient satisfaction, and research activities. However, across the industry, strategic alignment and executive management of this portfolio are immature.”
- “The demands of the business drivers and the shift to value-based care make it necessary for senior leadership to purposely re-evaluate their existing portfolio and understand updated needs in context of the new realities.”
In conclusion, Gartner recommends that healthcare systems update their analytics strategy, create a business value model that guides their organizations’ investment in data and information assets, adopt an LDW approach, and re-engineer the analytics infrastructure.
Click here to read the full report, Transitioning to Value-Based Healthcare: Building Blocks for Effective Analytics.