As healthcare reform continues across the nation, healthcare organizations have to rethink how they analyze and utilize their clinical, financial, and operational data. The current healthcare policy is shifting provider services from a fee-for-service reimbursement model to a value-based model. This substantial payment shift will ultimately result in large laboratory reimbursement cuts, forcing organizations to adapt new practice models in order to thrive. These changes can be mitigated with advanced analytics solutions. Adopting advanced analytics will allow organizations to gain competitive advantages by improving their current operations and enhancing their quality of care.
Five Considerations for Implementing Analytics
Clean data is imperative to drive the clinical, financial, and operational outcomes health system leaders are being asked to achieve—however, getting to accurate, actionable data for decision making is no easy task.
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To excel in an ever-changing value-based healthcare market, providers across the spectrum will need to develop an advanced analytics strategy. In particular, Medicare Part B providers need to be prepared for Medicare’s Merit-Based Incentive Payment System (MIPS), as their payments will be tied to performance measures. The implementation of the MIPS — part of the…