In a recent article, Richard Royer and David Conejo discuss the crucial nature of actionable data in the era of Value-based care. As financial incentives are being set by CMS, and soon to be adopted by private payers, data will be necessary to show evidence of quality improvement. Understanding the data life-cycle is essential to identifying how it impacts healthcare organizations. The following are the necessary parts to the data life cycle:
- Find the Data
- Capture the Data
- Normalize the Data
- Aggregate the Data
- Report the Data
- Understand the Data
- Use the data
All of these steps are meaningless if step 7 – using the data - isn’t adopted. In order for the data to be usable, it must be actionable. Finding actionable data in EHRs and other healthcare technologies is challenging. The key to finding the actionable data, but then utilizing that data, is teaming up with a vendor that will help practices master the data. Those facilities that “master the data” will be better prepared for population health and will benefit the most financially.
“In the age of value-based healthcare, data is the key that will enable providers to be financially successful in the future as payments become more heavily based on value, and patients seek providers that meet their growing expectations.”
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