In the News: Aug 29–Sept 5
AI Could Reveal Patient Insights Through ECG
A recent Wall Street Journal article discusses a study demonstrating the application of artificial intelligence (AI) to ECG to help physicians learn more about their patients’ heart health. Researchers from Mayo Clinic found by using AI, providers can estimate a patient’s physiological age, as opposed to chronological age, using subtle patterns within biomedical data. A person’s physiological age measures how well one’s body is currently functioning compared to research based on one’s age. This measure can help physicians identify difficult to detect diseases earlier in patients.
Sg2 believes patient-generated data will continue to grow as technology becomes key to realizing the opportunity within patient visits. Remaining a viable and relevant provider of cardiovascular services in your market requires high-quality, multidisciplinary offerings that facilitate the most cost-effective care delivery at different sites. To learn more about key trends, potential disrupters and achieving growth in your cardiovascular service line, watch the on-demand Sg2 Webinar Cardiovascular Landscape 2019.
Six Technologies Can Help Health Care Practices
A recent FierceHealthcare article summarizes a report published by the Medical Group Management Association and the payment engagement platform Cedar identifying the top 6 technologies shown to improve workflows and patient-provider interactions. Using survey data and follow-up interviews with industry leaders, the 6 most valuable technologies in health care—patient portals, automated appointment reminder systems, check-in technologies, virtual health, digital payment options and data analytics—can address increasing expectations for consumer-centric care across the care continuum and increase practice productivity. Data from the survey demonstrated that 70% of health care leaders acknowledged plans for their practices to adopt these technologies in 2019 to improve practice efficiency.
Improving consumer-facing health care technology is integral for a provider working to deliver convenient, cost-effective care. Launching platforms that engage patients in user-friendly encounters will help organizations deliver higher-quality, effective patient care while simultaneously improving overall practice efficiency. To learn how one organization integrated a new patient technology into their everyday workflow, please read the Sg2 case study MUSC Health: Tech Enables High-Touch Care At Low Cost.
Risk Adoption Is Critical for Value-Based Payment Shift
A recent Modern Healthcare article discusses growth trends in value-based payment arrangements between payers and providers as being structured with limited downside risk adoption. A 2018 survey of 120 commercial insurers found roughly two-thirds of their payments are linked to value-based arrangements, with only 26% of claims in 2021 expected from fee-for-service. Despite the rise in number of value-based contracts, providers and payers remain averse to risk as demonstrated by capitation, pay for performance and population-based models all assuming less than 7% upside and downside risk.
The lack of data and appropriate quality measures is preventing providers from assuming greater risk and, ultimately, preventing the transition to value-based care from moving forward. Data analysis is a critical component of value-based arrangements, offering a comprehensive understanding of patient interactions across the System of CARE. Providers and payers will have to work together to improve claims data, pricing information and capturing patient information for value-based contracts to assume greater risk.
As the shift to value continues, it is essential that health systems assess their risk readiness when taking on value-based contracts. To help you in the shift to value-based care, Sg2 routinely assesses 4 leading indicators of risk readiness across markets nationwide. Learn more in the Sg2 report Tracking Market’s Evolution Toward Value-Based Care, which features 3 US markets in varied stages of transition to value-based care.
Tags: AI, capitation, cardiovascular services, claims data, cost-effective care, data analysis, ECG, fee-for-service, growth, health care technology, patient-generated data, patient-provider interactions, risk, risk readiness, shift to value, value-based payment, workflow