Addressing Value-based Care Through EHR Reporting
People resist change. That’s nothing new. For some individuals, adjusting to the use of technology in everyday life, especially over the past couple decades, has been especially challenging. So many processes are now automated, seemingly for ease of use.
One big challenge for the healthcare industry has been the transition from fee-for-service to value-based care. As you’re probably already aware, the move was designed to improve financial and clinical performance by paying providers for value instead of volume and offers incentives to providers for meeting quality and performance measures. It encourages provider organizations such as yours to better manage disease, improve the health of patients with chronic conditions through evidence-based medicine and reduce costly readmissions. According to estimates, 59 percent of payments will be value-based by 2020.
Some additional benefits of value-based care include:
- Reduced duplication of services
- Enhanced patient involvement in care
- Reduced healthcare costs
- Sharper focus on the clinical need for procedures
- Increased evidence-based clinical decisions
- Enhanced focus on population health
Facing a Challenge
The problem is that many healthcare providers face challenges in this transition. In fact, one survey found that 57 percent of physicians and 54 percent of payer executives believe the healthcare system as a whole is lacking the support necessary to advance value-based care. If you haven’t already, you’ll most likely soon find out there’s an increased need for advanced data analysis that allows your organization to cost-effectively measure and improve outcomes and overall performance, enhance care coordination, promote population health management, improve care planning and management and reduce risks.
EHR reporting and data analysis can be used to help determine more exact costs for various services and identify areas for improvement. Plus, as organizations like yours are inundated with data more than ever before, analytics enable you to gain actionable insight to improve quality of care, measure KPIs, reduce operational costs, measure and track performance and increase patient safety.
Let’s take a closer look at some areas where EHR reporting offers advantages.
Healthcare data analysis can utilize big data to identify patients with a high risk of chronic disease, resulting in the availability of more proactive intervention and treatment. By being able to combine, integrate and analyze large volumes of patient data from disparate systems, including EHRs, your organization can better manage high-risk patients, thereby reducing their overall cost of care.
Medication Management Reporting can be used to improve patient care and reduce costs by analyzing real-time data on medications and the way they’re prescribed. This allows clinicians to identify savings opportunities from drug costs, detect specific adverse drug reactions that are increasing costs and improve drug decision-making. Using EHR reporting and data analysis help achieve cost savings by focusing on drug pricing and utilization, better identify drug interactions and addiction tendencies, reduce costs from adverse drug events resulting in hospital readmissions, gauge appropriateness of use of certain drugs, achieve accurate and timely reporting and reduce or eliminate improper usage of drugs.
By utilizing data analysis to forecast patient volumes, you can utilize an appropriate number of staff members, resulting in reduced patient wait times and improved patient outcomes.
Many healthcare organizations use data obtained through EHR reporting to meet specific Federal guidelines such as those in the Hospital Readmissions Reduction Program (HRRP).
The use of EHR reporting and data analysis to identify at-risk patients at the time of admission lets you customize patient care to reduce costly readmissions.
Population Health Management
The growth of population health management is due primarily to the transition to value-based reimbursement, and, if you’re like many healthcare organizations, you’re working harder to analyze the wealth of data obtained through EHRs and other technologies. Having a proper population health management system in place enables you to more effectively stratify patients, identify risks and provide care to those who need it.
Data Analysis at Your Fingertips
Care management can help your patients improve clinical values, reduce unnecessary care and reduce healthcare costs. It can benefit your practice by enhancing care coordination, supporting patient compliance and sustaining and growing your practice.
Implementing a care management tracking system using the data you obtain through EHR reporting and data analysis can help your practice decrease readmissions and regularly and accurately analyze health risk assessment scores. One large physician group that employed such a system saw a 14 percent reduction in admissions among its target senior patients. AHRQ offers a comprehensive list of key care management strategies and recommendations to help get you started.
Similarly, performing data mining can assist you in building and maintaining a streamlined transition of care process without breaking the continuity of care. As an article in JAMA notes, effective transition of care management is comprised of multiple patient intervention components, including readmission risk assessments, medication reconciliation, follow-up appointment scheduling, patient education and coaching by dedicated clinicians.
Although there are multiple transitional care models in place around the United States, it’s imperative to use one that best fits your practice’s workflow and goals. Integrating EHR reporting into this process lets you better identify, evaluate and monitor patients for improved outcomes. It increases your access to health information to reduce redundancies in diagnostics and patient health histories and improve provider-to-provider communications.
EHR reporting also aids you in identifying and collaborating with patients to manage specific risk factors or combinations of risk factors to improve patient outcomes. Paired with accurate coding for precise risk adjustment, it helps ensure you’re coding to the highest level for optimal patient risk categorizing.
If you’re already employing EHR reporting and data analysis in your organization, financial dashboards let you easily and remotely track key performance indicators and access patient information 24/7. They allow you to enjoy almost real-time insight, view and track patient visits, measure health outcomes, manage appropriate access to private health information, analyze performance data and support quick problem-solving. In addition, they can be used to monitor a variety of clinical performance metrics, collect, view and report on specific data and track clinical practice guidelines.
Contact us to find out how we leverage the power of technology to improve digital access to patients.