A comprehensive and well-thought-out big data analytics strategy can help healthcare providers navigate difficult transition from traditional reimbursement to population health management and value-based care. Most healthcare executives have not been trained to handle the scope of the business shift now being demanded of healthcare organizations, and that impact trickles down to those in the analytics department.
The good news is that this type of leadership can be learned; while it can’t be achieved overnight, this transition in analytics must happen quickly if success is the desired outcome.
According to a recent (September 23, 2015) blog post by J. Bryan Bennet titled “Top Challenges to Analytics in Healthcare? Not Technology”, this finding became clear in a study conducted by the Healthcare Center of Excellence this summer, which sought to determine what are perceived to be the top challenges facing analytics.
The study reveals the importance of executive leadership skills in bringing about support of analytics and the extent to which findings from analytic efforts are incorporated into how organizations change and adapt. This aspect of leadership, while learnable, needs to happen quickly if organizations want to achieve the desired incomes from their forays into analytics.
The challenges were classified into 10 categories – analytic tools, change management, costs, data management, education, integration, leadership, process, talent and technology. While the challenges facing healthcare analytics implementations may not surprise anyone, the order of magnitude, related to the number of times they were mentioned may be surprising.
The top three categories were leadership, mentioned by 29 percent; data management, mentioned by 18 percent; and talent, mentioned by 14 percent. The technology and tools weren’t perceived as being a problem – in fact, technology was mentioned by only 5 percent, analytics tools and process, both at 3 percent.
But please notice; data management and talent are the screaming issues of many healthcare delivery organizations in the U. S. today . . . the day ICD – 10 went into effect.
If healthcare leadership chooses to accelerate its learning curve up to levels needs to exceed the coming Medicare standards for reimbursement and their own revenue cycle management benchmarks, they are wise to look to proven teams not under their tent.
Planning analytics and data management tools are just two of our sweet spots. Our custom application development expertise allows our analysts to mix and match data sets as needed. We can blend internal with external data sources to establish historical trends and project patient need and demand, which are the backbone of any feasibility study.
Additionally, we can help you monitor trends, measure progress toward a quantitative goal or flag shifts in your market or financial operations. Take a look at one of our hospital success stories. And then call us to start a conversation that can enhance your data management investment while you make savvy delivery location decisions. 512 478 3848