Posts in Category: value-based care

LUMEDX Blog 

ASE2018 tackles value-based care, MACRA in the echo lab

As hospital administrators, service line leaders and clinicians work tirelessly to stay on the cutting edge of science and medicine, health IT is increasingly providing the solutions to many new challenges.

This was apparent to the 2,500 sonographers and physicians who attended the recent 29th annual American Society of Echocardiography Scientific Sessions to exchange information about how best to thrive in the rapidly changing U.S. healthcare environment.

On everyone’s minds was the transition from fee-for-service to value-based reimbursement. Sessions tackled such topics as the ACA, MACRA in the echo lab, strategies to reduce low-value care and more. And not surprisingly, attendees learned what a crucial role analytics play in finding ways to continuously reduce variability in care, understand cost and episodes of care, and coordinate care.

The integration of qualitative and quantitative echocardiography to better understand the physiology and anatomy of cardiac surgical patients is critical. How providers are scored is also a concern.. Resource utilization as well as quality measures by the Quality and Resource Use Report (QRUR) will affect the rate of reimbursement for more than 90 percent of all providers by 2019.

This puts more pressure on providers to improve imaging standards within the echo lab. While quality improvement (QI) initiatives are a requirement for lab accreditation, hospitals can expect things to get more intense. This includes benchmarking, for example measuring the percentage of suboptimal studies or adherence to the lab protocols.

Bottom line is that there will be a greater emphasis on increasing quality metrics and turning out quantifiable and reliable studies. This will demand that sonographers and labs, already dealing with productivity pressures, work smarter to improve image quality to meet the standards required by the changing value-based care environment.

LUMEDX can help you navigate the change with cloud-based image management and HealthView Analytics—a cutting-edge analytics platform that will help you better measure performance, monitor cost-cutting, and manage your echo image quality and turnaround times with quicker and more insightful reporting.

LUMEDX’s HealthView Echocardiography solution delivers streamlined, integrated workflow for echo labs, improving data accuracy while expanding your department’s ability to perform statistical analysis on echo events.

To learn about LUMEDX’s HealthView Echocardiography solution, go to: www.lumedx.com/echocardiography.aspx. For more information on the HealthView Analytics, go to: www.lumedx.com/healthview-analytics.aspx

Posted by Jana Ballinger Friday, June 29, 2018 10:58:00 AM Categories: ASE health IT HIT MACRA value-based care

LUMEDX Blog 

Health IT study identifies value-based care, analytics as top priorities

Healthcare providers are prioritizing value-based payment models in 2018 IT budgets and data analytics is the category most likely to see an increase in spending, according to a survey from healthcare advisory firm Damo Consulting.

According to the study, the biggest drivers of technology spending in the healthcare sector are value-based care initiatives (60.5 percent), patient engagement and care management (57.9 percent), enterprise digital transformation (47.4 percent), and considered cybersecurity and ransomware (39 percent).

The study also asked respondents which technology areas they think will see increased spending in 2018. Data analytics was the single biggest area identified, with 76.3 percent. Nearly half (47.4 percent) believe that AI and cognitive spending will increase in 2018, followed by digital health (44.7 percent).

When questioned about the biggest obstacles for growth in healthcare IT spending, a majority (60.5 percent) of respondents cited a lack of enterprise readiness for new technologies. Fifty percent of respondents believe interoperability challenges to be the second biggest obstacle and 47.4 percent indicated insufficient/unproven ROI on new IT solutions.

Among the other findings is that the CIO remains the most important decision maker (23.7 percent) for technology solutions and services in their client organization. However, other titles are gaining importance, such as CFO, CTO and CMIO.

Damo sought input from 38 individuals at global technology firms, population health management companies, digital health organizations and more. To read more, download the survey here.

At LUMEDX, we know that analytics and value-based care go hand in hand. Actionable insights from your data are key for health organizations making the transition from a fee-for-service payment model. For more information about how our HealthView Analytics offering can help you, visit lumedx.com/healthview-analytics or email info@lumedx.com.

LUMEDX Blog 

Value-based care is here to stay, will get boost from analytics, study says

Despite 2017’s cancellation of mandatory bundled payments, the value-based care movement in the United States is still healthy and will benefit in 2018 from analytics, according to a report from Washington, D.C.-based healthcare consulting firm Avalere.

In “2018 Healthcare Industry Outlook,” Avalere says new ways to collect data and advanced analytic capabilities are revitalizing efforts to turn data into insights that can inform policy and improve clinical workflows. This supports the shift to value-based care, which has continued even as the Trump administration backs away from large-scale mandatory models.

In November, the Centers for Medicare and Medicaid Services (CMS) canceled a plan for mandatory hip fracture and cardiac bundled payments that was slated to go into effect Jan. 1, sparking some concern that the action signaled a move away from value-based care. But then on Jan. 9, the CMS launched a new, voluntary bundled payment model that will be considered an alternative payment model (APM) for purposes of Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) reporting.

This, along with evidence from Avalere that the private sector has not reversed course, tells us that interest in strategies to move away from the traditional fee-for-service payment model has not waned.

“Despite political transitions and revisions to Medicare bundled payment programs, the U.S. healthcare system’s transition to APMs has remained steady,” the report says. In 2017, some of the largest commercial plans were running nearly 50 percent of their medical spend through APMs and aim to go higher, according to Avalere.

Because value-based care rewards healthcare providers who prioritize better outcomes for their patients, leaders are turning to technology investments that can lower costs and improve care quality. Avalere says that data reliability and accessibility, including capturing information and creating algorithms, will drive outcomes-based contracting and a transition toward APMs.

“Success in APMs will require providers to create better infrastructure for proactive care management, data analytics, and timely integration of disparate data,” the report says. “More widespread availability of real-world data will enable new entities to leverage analytics and insight to benefit patients and their providers.”

An outcomes-driven environment requires fast and easy access to clinical and financial intelligence that can shine a light on the best possible course forward. To learn how LUMEDX data analytics can help your organization in the transition to value-based care by becoming more efficient and improving patient satisfaction, get information about the Cardiovascular Performance Program or email us at info@lumedx.com.

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