CHIME Series: The Value of Having a Dedicated Data Analytics Team

This week, we continue to explore the results of our College of Healthcare Information Management Executives (CHIME) survey and the need for data-driven teams. Our survey asked the question: With the shift to value-based care, have you considered creating a department dedicated exclusively to analytics for the enterprise? The results show that many organizations already have (32 percent) or are considering creating an analytics department (43 percent), while the remaining (25 percent) of organizations have not considered creating an exclusive data analytics team.

As healthcare continues to move towards value-based care, more organizations will need to create teams that focus exclusively on data analysis. An elite data-driven team understands that analytics is more than a data warehouse, and can help organizations make sense of data using predictive models, analysis of gaps in care, quality measure calculations and payer expertise. Breaking down these data silos will shed light on actionable insights that can be delivered to key decision-makers. Below are three best practices to ensure data teams are making an impact throughout the organization:

  • Find departmental business leader and champions – data champions are the driving force that will integrate insight into their daily, monthly and/or quarterly management processes.
  • Build trust with data governance – it’s important to provide reliable data that business leaders and champions can use to empower physician and clinical teams to reach their goals. To ensure data trust, there needs to be proper governance, documentation and data mapping to help build trust and transparency throughout the organization.
  • Develop a data driven culture – data literacy and data democratization is the foundation for creating a data-driven culture. A key component in creating this is tapping data analysts whose sole job is to gather data and analyze it in a meaningful way to generate results. An example of this is with Presbyterian Healthcare Services (PHS), who gave their analysts the appropriate training and mentoring to ensure they were developing a consultative skillset that met the needs of their diverse organization.

With this strategy, healthcare organizations can ensure that their data-driven teams aren’t just understanding the data for their purposes but distributing it across the organization for success. To learn more about setting up a data-driven team, read more here. To get a better understanding of how PHS developed and made the best use of their data, click here. If you’re looking for guidance and assistance, make sure to contact us: https://medeanalytics.com/company/contact

Posted in

MedeAnalytics

MedeAnalytics is a leader in healthcare analytics, providing innovative solutions that enable measurable impact for healthcare payers and providers. With the most advanced data orchestration in healthcare, payers and providers count on us to deliver actionable insights that improve financial, operational, and clinical outcomes. To date, we’ve helped uncover millions of dollars in savings annually.

Leave a Comment





Get our take on industry trends

Introduction to social risk: What healthcare leaders need to understand

September 27, 2024

‘Social determinants of health’ has been a common phrase for decades now, but the term social risk is much less…

Read on...

AI is your new crystal ball: How predictive analytics can reduce denials

September 23, 2024

The idea of having a crystal ball to better understand what claims will be denied is an awesome concept. But one we can’t rely on. Thankfully, we have predictive analytics to take the place of a crystal ball.

Read on...

3 ways to reduce friction in payer-provider relationships

August 14, 2024

The dynamic between healthcare providers and payers has historically been quite strained. Though both parties are interested in improving the…

Read on...

Position your organization for success under CMS-HCC V28

August 6, 2024

The transition from CMS-HCC V24 to V28 heralds a significant shift in risk adjustment methodologies and emphasizes improved accuracy and…

Read on...