Data can give us a ton of insight into the quality of care provided by healthcare organizations. However, gathering, analyzing, and reporting on that data can get complicated.
Sometimes, all it takes to simplify quality measures reporting is finding the right company with the tools and resources that a provider needs.
We interviewed Healthmonix, a client of ours, to learn more about how they help practices maximize revenue and improve patient outcomes.
Lauren Patrick and Healthmonix
Lauren Patrick, Founder and CEO of Healthmonix, talks about the type of customers they serve and what problems they can solve.
Whether you participate in MIPS or an APM, need specialty measures, or are looking for an ACO, Lauren and her company are changing the game.
“We provide quality reporting dashboards. So we show providers how they’re doing against current standards of care and we give them the chance to improve. Then, we report that data to where it’s necessary, for example, CMS (Centers for Medicare & Medicaid Services) or other payers for HEDIS (Healthcare Effectiveness Data and Information Set).”
The Challenge of Data Integration
Data integration is an enormous challenge within the healthcare industry. Unfortunately, most practices lack the internal resources necessary to collect data for analysis and reporting, which results in the need to outsource to companies that can gather the data for them.
Finding a trustworthy company that can accurately report data is not always easy.
In the interview, Lauren explains that many providers have had bad experiences related to data reporting. Some have overpaid for or received inaccurate data, and others cannot even figure out where to start.
Healthmonix is unique because they step in and take the work out of value-based care and data reporting by meeting the provider where they are. In other words, they pull data from spreadsheets, EHRs, claims systems, EMRs, and other systems that lack easy-to-use interfaces to remove the burden from the provider.
Here at Healthjump, we understand how big of a challenge data integration can be. That is why we love partnering with companies like Healthmonix — to simplify that data collection in the mission of improving healthcare for all.
To learn more about Healthjump, connect with one of our experts.
Using a Partner for Data Reporting
Since companies have been burned by vendors before, Healthmonix sometimes starts with a proof of concept. To do this, they will pull a handful of records, run them through their system, and ask the practice to vet them before they continue. Once the contract is signed, Healthmonix will gather all of the data for quality measures and incentive payment systems, such as MIPS.
At first, data reporting may not seem to make sense when separated into different services. However, each service (quality measuring, data reporting, ACOs) impacts the other. Having a partner like Healthmonix to walk providers through this can make the process easier.
Closing the Primary Care Gap to Lower the Cost of Care for Patients
Additionally, Healthmonix offers an Accountable Care Organization. When a provider joins the Healthmonix ACO, they receive the following:
- Annual MIPS reporting
- Value-based improvement opportunities
- Practice transformation consultant
- Quality metrics and cost of care analytics
- Payment model guidance
Healthmonix will speak with the provider to determine how to reduce the cost of care while simultaneously working to bring patients into the primary care office more regularly.
Lauren explains:
“We’re going out there and we’re gathering all of the claims data for those patients and bringing it back to that provider. The typical primary care provider only bills 7% of a patient's cost for the year. So, the other 93% is inpatient care, specialists, ED (emergency department) visits, PT (physical therapy), and medications.”
A primary care provider can bring a patient in for early intervention services such as nutrition counseling, wellness check-ups, and lab result consultations to increase the 7% to almost 10% or 15%. When this happens, patients visit the emergency department and specialists less — decreasing their overall cost of care.
“The more we can get that primary care doctor involved in understanding the care that that patient is getting, that doctor can spend more time with that patient.”
There is an additional benefit to patients coming in more often. As part of an ACO, when a provider lowers the overall cost of care by providing higher-quality care, they gain additional revenue through incentive payment plans.
Healthmonix gathers all the patient data that a practice needs to understand how to improve care — making it easier to do better.
Data Integration for Value-Based Care
Using quality measures to improve value-based care in a healthcare organization is easier said than done. To do this, you need data, which can be hard to get. If you are having trouble gathering and analyzing health data from different sources, Healthjump can help.
Through Healthjump, you can easily access and organize data from EHRs across different organizations. Get in touch with one of our experts to learn more about what we can do for you.
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