eBook: How payers can navigate the hurricane of healthcare data

By Milliman MedInsight

23 January 2024

With healthcare data accruing or flooding in at a rate that has been compared to a hurricane, payers who can navigate the rising tide of digital information will reap unprecedented opportunities for innovation and efficiency.

Data-driven decision making, fueled by everything from electronic medical records to wearable devices that collect healthcare information directly from members, is a source of insight that can drive significant improvements in the quality and cost of care.

Harnessing all that data, however, can present a serious challenge, as the metaphors make clear.

The growing volume of data in healthcare can leave payers facing significant obstacles that include:

  • Managing and analyzing large volumes of data: As the healthcare data landscape expands, payers face the challenge of effectively managing and analyzing this data to gain valuable insights. These insights are crucial for informed decision-making to enhance plan value and member outcomes.
  • Ensuring data privacy and security: Given the vast amount of sensitive member information collected, payers must make data privacy and security a top priority. Safeguarding against data breaches and ensuring member confidentiality are paramount.
  • Integrating data from disparate sources: Healthcare data is often siloed across different systems and departments, making it difficult to integrate and gain a comprehensive view of member health and provide stakeholders with a single source of truth.
  • Managing data quality: Healthcare data is vast and complex, and can be derived from multiple sources, increasing the likelihood for errors, inconsistencies, and inaccuracies. Ensuring data accuracy and completeness is critical for payers to  achieve long-lasting success in a challenging and dynamic healthcare landscape.
  • Leveraging the promise of data-driven insights with limited time and staff: With data playing an increasingly key role in healthcare, payers without the resources to dedicate to analytics risk losing opportunities for improvement and cost savings.

How to navigate the healthcare data hurricane

Navigating these challenges requires commitment, leadership support, and an investment in the right tools and processes.

Our eBook: Navigating the Hurricane of Healthcare Data: Insights for Payers, outlines steps you can take to transform your hurricane of data into a source of insights for improving health outcomes, driving efficiency, and staying competitive in the value-based care marketplace.

Here is an overview of what you will learn:

  • The importance of senior leadership buy-in
  • How to protect yourself against data errors & inconsistencies
  • How to leverage analytics ROI
  • The value of a solid analytics strategy
  • What to look for when investing in analytics tools

To learn more about the steps you can take to foster a secure, effective, and well-leveraged data-driven culture in your organization, download our eBook and get started on the path through the data hurricane.

Download Navigating the Hurricane of Healthcare Data: Insights for Payers

Speak with one of our data analytics experts to learn more about how you can leverage our award-winning analytics to get more out of your data, including EMR data integration.

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