A Year in Review: Our Top Health IT Innovation Stories from 2016
2016 was a major year for healthcare innovation. From cross state big data collaborations to the recent passing of the 21st Century Cures Act, here are a few of our top healthcare innovation stories from the past year:
- Healthcare is Having an Ernest Hemingway Moment – From virtual reality to cloud-based systems, healthcare organizations are looking to continue progressing innovation forward. Tom Sullivan of Healthcare IT News explores how health systems across the country are using emerging technologies to encourage patient engagement.
- “Big Data Spokes” Tackle Population Health with IoT, Informatics – Following a $10 million grant from the National Science Foundation, four academic institutions across the nation will work together to better utilize big data analytics. Jennifer Bresnick of HealthIT Analytics shares how this collaboration will improve data sharing, help develop best practices and open new opportunities for data-driven public health.
- CMS releases MACRA final rule: 10 things to know – Nearly 2,400 pages in length, the final MACRA rule aims to reduce the administrative burden on physicians so they can focus on care improvement and the transition to VBC. Emily Rappleye of Becker’s Hospital Review highlights the top 10 things to know about the new rule.
- ICD-10 turns 1: Was it so bad? – As of October, ICD-10 codes reached their first birthday and, surprisingly, the transition turned out to be better than expected. Meg Bryant of Healthcare Dive looks at how the implementation fared over the past year.
- $6.3 Billion Measure Aims to Cure Ailing Health Care Policies – In a rare bipartisan vote, the long awaited 21st Century Cures Act was officially signed into law. Jennifer Steinhauer and Sabrina Tavernise of The New York Times explore how the boost in federal funding for research efforts in cancer and other diseases will also support health IT efforts across the country.
With robots entering the healthcare space, a new administration and the continued prospect for new medical advances in the health IT community, we are helping ensure that our customers are ready for this changing landscape. If you want to learn more about how MedeAnalytics can help your organization excel in the new year, check out our solutions page.
Understanding the Political Healthcare Climate
The healthcare industry is abuzz with speculation about its future under the Trump administration and Republican-controlled Congress. While nothing is truly certain, let us help you understand healthcare policy intricacies that are sure to change the face of healthcare as we know it today.
Paul Ryan’s Healthcare Reform Proposal
Donald Trump and Republicans in Congress vow to repeal and replace the Affordable Care Act. In the absence of any details from Trump, we can look to a proposal released by Republican House Speaker Paul Ryan titled “A Better Way”. Here’s a synopsis of the 37-page proposal:
- Maintains the idea that everyone in the U.S. should have health insurance
- Includes tax credits to help people pay for insurance
- Protects those with existing illnesses and medical conditions from losing coverage
- Maintains that a market approach could reduce healthcare costs and improve efficiency
- Includes tax-free health savings accounts to help pay for deductibles and keep premiums down for young, healthy people
- Limits tax breaks for employer-based insurance to encourage cheaper, high deductible policies
- Offers high risk pools for people difficult to insure, like those with chronic illnesses
While dubbed “Obamacare light” by some, Ryan’s plan changes a key feature of Obamacare that spreads the cost of insurance across generations, with healthy and young people subsidizing older and sicker people who typically require more care. Ryan’s plan enables younger people to start saving for major health problems over time through health savings plans that would be partly funded by the government. Read the proposal.
Looking to Improve Coding Documentation? Ardent Health Services Explains How
Despite a smoother than expected ICD-10 transition, accurate coding documentation still plays a critical role in ensuring financial success. By 2020, fee-for-value reimbursement is projected to represent 83 percent of revenue – up from 43 percent today.
Adrienne Younger, RN, CCDS, Manager of CDI education at Ardent Health Services recently connected with Kelly Gooch of Becker’s Hospital Review to discuss how Ardent achieved coding and documentation success by changing their coding culture, leveraging their own data and collaborating as a unified health system. Here’s a recap of the top takeaways from the discussion:
- Coders need to feel connected, vested and understand their new role in VBC – Adrienne underscores that “value-based care takes on a quality aspect that we've never really paid attention to or focused on.” She notes that it is important for healthcare leadership to educate coders and empower them with the necessary resources to understand the differences in fee-for-service and value-based care. Coders are no longer here just to code a record; they need to lookout for patient outcomes.
- Sometimes the best resources are right in front of you – For Ardent, one of the most valuable resources they were able to tap were their own records. Using MedeAnalytics Revenue Integrity, they could analyze their own data and find new insights under ICD-10. “Industry modules and resources are great, but what really makes the impact is when you use your own work to teach yourself,” explains Adrienne.
- Collaborate as a total health system – At the end of the day, everyone has the same goal: to improve patient care. In addition to having coders feel vested and connected to the clinical side, it is important that the entire health system works as a team. At Ardent, CDI worked with the quality team and attended case management meetings to understand how they can partner with each other. It’s these collaborations and relationships amongst everybody that help the entire hospital run as one team.
A Year in Review: Top Analytics Stories of 2016
2016 has been a year filled with news and innovation around the convergence of data analytics within healthcare. From new predictions around the analytics’ market worth by 2025, to best practices and strategies to making big data actionable, we put together a list of the top five stories that are good reads in preparation for 2017.
- The Future of Health Care Is in Data Analytics – Mike Montgomery of Forbes highlights how meaningful analysis of patient data will advance better patient outcomes.
- How to Build a Successful Big Data Analytics Program in Healthcare – Jennifer Bresnick of HealthIT Analytics recommends aligning on organizational goals before diving into the granular strategy that deals with big data management.
- Healthcare predictive analytics market should hit $19.5 billion by 2025, research shows – Jeff Lagasse of Healthcare Finance News shares the market growth and key players in the area.
- How technology and data shape digital marketing in healthcare in an on-demand era – Paddy Padmanabhan of CIO notes that the consumerization of healthcare will increase demands for big data analytics to manage patient engagement and satisfaction.
- 3 Trends Driving Healthcare Data Analytics Over The Next 3-5 Years—Erica Garvin of HIT Consultant predicts that insights from data analytics will drive innovation in population health management and help healthcare organizations manage costs.
Interested in learning more about how data analytics can benefit your healthcare organization? Visit our solutions page, here. You can also access past webinars and whitepapers to gain additional insights, here.
How West Tennessee Improved its Revenue Cycle with MedeAnalytics
Last week, Bart Teague, executive financial director of patient financial services at West Tennessee Healthcare, connected with Joe Goedert of Health Data Management. In the article, Tennessee health system seeks revenue cycle improvement, Bart shares insight on how the MedeAnalytics partnership has aided the health system in their efforts to improve their revenue cycle. Bart highlights how analytics has allowed them to do the following:
- Analyze 4,000 record reviews
- Find $3.7 million in refunds owed
- Win $900,000 in payment appeals
He also discusses what the organization hopes to gain through the continued partnership. In particular, West Tennessee plans to leverage MedeAnalytics’ solutions to improve revenue cycle workflows and develop a more centralized process as patients move through the system. Analytics will also allow the organization to assess the process of creating HIPAA transactions and ultimately, improve point of service collections.