Improve healthcare outcomes and lowering cost through integrated data

In a rapidly evolving marketplace, payers, providers and other stakeholders in the healthcare ecosystem need to constantly innovate to deliver affordable, accountable, and high-quality care for their customers. This brings immense opportunities for healthcare organizations to harness all the existing resources thereby fostering enhanced patient outcomes at reduced costs.

To facilitate affordable, accountable and high-quality care, the various stakeholders should look at implementing a data hub that would provide authentic, real-time data to their internal and external systems. Equipped with data transformation and protocol conversion capabilities, such a hub can facilitate smooth integration of electronic medical records (EMRs) and other data systems without hindering mission critical operations.

Data Integration: Heart of the matter - The continuing shift from a fee-for-service model to performance-based reimbursement makes it imperative for providers to generate a 360- degree view of each patient across the healthcare value chain. To analyze costs, outcomes and quality, and tackle problems including medication compliance and preventable readmissions head on, hospitals and clinics must harness information across disparate systems. Data driven healthcare procurement is emerging as a major focus area for payers as well.

Data Integration: The challenges - Providers across the board are implementing electronic medical records (EMRs) systems as part of their data digitalization initiatives. However, traditional EMR setups barely capture the requisite data to evaluate outcomes and behavior, such as socioeconomic status and health patterns within while the for better understanding the cost and quality of their care delivery, providers need to pull in financial information, including data from payers in other systems.

Also, most of the health information exchanges (HIEs) set up by accountable care organizations (ACOs), while helping eliminate data silos, do not facilitate sophisticated analysis of clinical data. Another major factor hindering real-time data integration across the healthcare ecosystem is the lack of system interoperability. The bulk of providers' legacy technology systems, characterized by poor data definitions and data governance, are incompatible with each other, with regard to exchange of patient data.

ShareHub - To help payers and providers overcome these challenges, they need a ShareHub that would provide round-the-clock, authentic, real time data to their internal and external systems. This ShareHub will be equipped with data transformation and protocol conversion capabilities that enable seamless real-time, bi-directional sharing of operational and patient-centric information among internal and external partners. To ensure that enterprise users have access to the latest, updated information, ShareHub could utilize primary data sources rather than various secondary databases.

As the health data universe keeps expanding at an exceptional rate, payers and providers will have to work in tandem to meet rising consumer demands for accountable, affordable and high-quality care. In a rapidly evolving marketplace, healthcare firms must embrace data driven decision making by breaking down various internal and external data silos, and advancing information flow throughout the ecosystem.

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