Reporting Framework for Value Based Care
Learn how a provider's relative performance, or 'value', can be evaluated through three key components in an equation: quality, efficiency, and cost.
Technology continues to advance almost daily and data sources and real-time data access are rapidly expanding in healthcare. These advances, combined with the shift from fee-for-service to value based reimbursement, mean healthcare analytics and reporting are changing too, and access to timely data is critical. But do all these advances and changes call into question the utility and value of monthly retrospective data for provider analytics?
The short answer is no.
There are advantages to real-time (or near real-time) data and there are advantages to retrospective data. The two can, and should, peacefully co-exist and complement each other.
There are certain critical analytics, including financial analytics, which require more static retrospective data to support strategic and long term operational decisions. Retrospective data also affords the opportunity to analyze and learn from how patients were managed in the past, which will benefit both providers and patients.
Examples include but are not limited to:
In contrast, real-time (or near real-time) operational reporting or analytics is better suited to the following needs:
Being able to support a broad range of use cases with both retrospective and real-time data allows an organization to be more competitive, adaptive and gain more strategic and operational insights to their performance efficiencies and improvement opportunities. Clinicians benefit by having the ability to make better-informed decisions at the point of care, a key factor in providing the most appropriate care for their patients.