I have been in healthcare information technology for over twenty years. It’s been quite the evolution in a very short time – from all paper to Electronic Medical Records, to Health Information Exchanges, to realizing a fully interoperable patient record… well almost on the last one.
Data drives the most fundamental processes in the healthcare world. Healthcare needs it to connect patients, patients to physicians, physicians to payors and to facilitate financials. Inaccurate information or incomplete information creates all sorts of risk issues including inappropriate patient care resulting from an inaccurate diagnosis, incorrect payments and lack of physician engagement.
Healthcare is driven by metrics and measures of all sorts, which are used to generate ROI (return on investment). These measures help gauge things from patient satisfaction to physician performance. “Not everything important can be measured and not everything measured is important” (Christopher Moriates, 2015). Large parts of clinical practice cannot be accurately computed or benchmarked, leaving quality metrics to be made up of only those that can be easily quantified. But is this the right way to determine the overall value of patient care or physician performance? Is this the only ROI?
In a value-based care world, these metrics become increasingly complex to measure as we shift from volume to value. As an executive responsible for helping create and collect metrics of value for organizations, the primary focus has to be on how is this helping the patient? How is this helping the physician? With the myriad of technologies and paper options are physicians really spending more time with their patients or are they spending more time hopping from system to system in hopes of collecting the information they need? Meanwhile, their day gets longer, the patient grows dissatisfied and real patient care suffers and the total cost of care goes up. There is no question they have to collect certain things to continue to get paid, but what offers real value to them and what as an executive is important to deliver – that provides the necessary ROI?
Traditionally we think of ROI as how much money are we making on an investment or a technology. The questions we are asking here at Holon: what else can be done to reduce costs, improve care, and maximize resources? Holon’s technology removes administrative burden from clinicians by surfacing patient-specific insights, directly into the workflow at the physician point of care. This saves clinicians time per patient, empowers your organization to push critical data to your providers – regardless of the EMR, and maximize the value from your analytics. The physician can spend more quality time with their patient and less time searching for information. The end result on ROI: reduced time spent per patient, improved satisfaction and reduced physician burden. True ROI.
Holon Solutions is a healthcare information technology company that liberates data to liberate care, putting the right information in front of the right people at the right time through our reimagined interoperability platform. Holon empowers risk-bearing organizations to optimize patient outcomes and financial performance by surfacing actionable, patient-specific insights directly to and from the point of care. Holon’s agnostic platform CollaborNet™ surfaces interactive, contextual, insights within the provider workflow, seamlessly shares clinical data with health plans and vendors, and automates documentation exchange and referrals across health communities independent of the technologies in play. Our team of innovators are focused on removing the administrative burden from clinicians through our patent-pending, sensor-based solutions. We are grateful to be recognized by Healthcare Informatics as the “2018 Innovator of the Year for Value-Based Care”.
Christopher Moriates, V. A. (2015). Understanding Value-Based HealthCare. New York: McGraw Hill Education.