This year’s Big Data & Healthcare Analytics Forum brought together payers, providers, government and academia decision-makers who shared their successes and lessons learned from their transition to value-based care. Of the many thought leaders who participated in the discussion, our client, Soyal Momin, Vice President of Data & Analytics at Presbyterian Healthcare Services (PHS), presented his abstract, “Eliminating Data Silos and Driving ROI.”
As a large integrated healthcare system consisting of eight hospitals, a statewide health plan and a growing multi-specialty medical group, PHS found it increasingly challenging to oversee its entire business from one integrated view. After investing in an enterprise data warehouse (EDW), PHS continued utilizing several reporting tools from different vendors for each of its business lines that created data silos. For PHS to thrive under the value-based care model, the organization knew they needed to balance their costs, utilization, quality, risk and outcomes. During Soyal’s presentation, he outlined how through their partnership with MedeAnalytics they could strategically differentiate themselves and add value within their integrated data analytics model. To achieve this success, PHS focused on three distinct categories:
- Creating Value for Key Stakeholders – Creating an integrated, enterprise approach, extends meaningful, actionable insights across PHS and to their business users so they’re able to access content, business rules, benchmarks, best-practice analysis and views.
- Integrating Payer and Provider Analytics – Through an enterprise approach to analytics, PHS has an integrated overview into their provider groups and health plan. The insights are extended across financial, operational and clinical areas throughout the provider-side of the organization. For the health plan, they can analyze payer data for cost and utilization.
- Promoting a Data-Driven Culture – Data literacy and data democratization is the foundation for creating a data-driven culture. A key component in creating this was tapping data analysts whose sole job is to gather data and analyze it in a meaningful way to generate results. PHS gave their analysts the appropriate training and mentoring to ensure they were developing a consultative skillset that met the needs of their diverse organization.
PHS has achieved ROI in its clinical, operational and financial areas within their enterprise. Additionally, PHS recognized operational efficiencies by replacing seven analytics vendors with MedeAnalytics, reducing redundancies and achieving quick wins with business stakeholders. More so, PHS expects to save millions in 2017 by improving collection for Medicaid encounters and increasing business development revenue.
To learn more, visit our enterprise analytics solutions page or download our white paper here.
Get our take on industry trends
Will adopting a risk-based approach with augmented analytics support care gap closure?
A common challenge for healthcare systems is how to properly segment its patient populations based on risk profiles and co-morbidities. Doing this well ensures a high quality of care delivery and superior patient outcomes.Read on...
4 questions healthcare executives are asking about augmented analytics
At our annual Impact Summit, I had the privilege to talk about augmented analytics and address questions from healthcare executives—many…Read on...
Using data analytics to combat the maternal health crisis
With most pregnancy-related deaths being considered preventable, why is the United States facing a maternal health crisis? The country’s maternal mortality rate is the highest of any developed nation in the world and more than double the rate of peer countries.Read on...
Q&A with Dr. Lyle Berkowitz: Diving into the future of AI, analytics and precision medicine
Estimated reading time: 4 minutes After an excellent keynote session led by Dr. Lyle Berkowitz at our 2022 Impact Summit…Read on...
Leave a Comment