Healthcare Financial Analytics | Healthcare Analytics | Healthcare Tech

  • saxonglobalpvt · メンバー ·

    Value-Based ‘New Normal’ With Financial Analytics In Healthcare

    Traditionally, US Healthcare system relied on Fee for Service (FFS) care and patient volumes to keep up the financials intact. With Covid-19 pandemic, elective surgeries were interrupted, chronic disease treatments were postponed, and hospital visits dropped by more than 70%. Burdened by the influx of Covid-19 cases and excessive staffing requirements, Healthcare system got crushed financially too. The system also began to show the flaws of chunky FFS model and more power to the Value-based care.

    Value-based care provides incentives for quality and FFS for quantity. Medicaid and ACA also have been pushing for Value-based care from quite some time. Quality of care is not just about the required treatment. It is about patient experience, lifestyle management, post-treatment experience, preventive care, and population health management. Data analytics and predictive modelling turns out to be a competitive differentiator for Value-based care.

    Cost management, claims management and revenue cycle management become important in the post pandemic ‘New Normal’ era to help organizations rebuild their fiscal health. Hence, financial analytics can only ease the transition to Value-based care and to enhance the fiscal health of the system.

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