According to a new study by the Business Group on Health, over 90% of employers reported concern over high-cost drugs and increasing pharmacy costs. This figure is not surprising when you consider that the average list price increase was nearly $150 per drug in January 2022 and rose to $250 by July 2022. During the … Addressing pharmacy drug trends with employer group reporting
Value-based care (VBC) models are rapidly gaining prominence in the healthcare industry, revolutionizing the way healthcare is delivered. To ensure that provider organizations make the transition, the Centers for Medicare & Medicaid Services (CMS) has implemented several initiatives that offer incentives in favor of performance-based payments. These include alternative payment models such as Medicare Shared … Overcoming key data challenges to drive the future of value-based care
When it comes value based-care accounting, few metrics are as useful as Total Cost of Care (TCOC). TCOC can show you precisely where your value-based care initiatives should be focused for the most efficient use of resources. And yet, as useful as TCOC can be, there are few metrics as difficult to pin down with … How to minimize total cost of care with healthcare data analytics
How MedInsight Supports Organizations on the Glide Path to Risk For healthcare provider organizations navigating the array of alternative payment models in use across all phases of value-based care contracting, the complexity can be daunting. From small physician groups operating on a largely fee-for-service basis to health plans managing the claims of tens of thousands … The right data for every model of value-based care contracting
It is widely recognized that a relatively small segment of a population can drive a significant percentage of overall healthcare expenditures. While some health plan members with minimal healthcare needs may not utilize any healthcare services, there are others who are high utilizers of the health system. Referred to as high-cost claimants, these individuals can … Mitigating the impact of high-cost claimants with Employer Group Insights
From claims to EMRs to lab and third-party data, healthcare payers have more data than ever at their fingertips – over 2.3 zettabytes per year according to a Statista projection. And healthcare data continues to grow. The value of data-driven insights for payers is undeniable. Yet, many payers struggle with transforming mounting data into data-driven … An ocean of data & a desert of insight: transforming healthcare payer data into strategic insights