Healthcare organizations are looking to tap into the potential value of social determinants of health (SDoH) data. Using this data, companies can identify previously unaddressed gaps in care, the most effective communication channels, and the best approach to delivering the care members need.
The shift from volume-based care to value-based care created countless opportunities and obstacles for healthcare organizations. One of the most important changes has been the impact on member engagement and population health management. More than ever before, care providers must develop a deep understanding of their members to deliver personalized, effective care. Accomplishing this takes the right approach.
Outcomes-based contracts make plenty of sense, as they are designed to get organizations to work toward common goals.
The move toward the increased adoption of data warehouses and analytics has been on for quite some time in healthcare. Consider the following: The use of clinical data warehouse applications grew from just 25% in 2009 to 45% in 2014, according to a report from HIMSS Analytics.1 A more recently released report from MarketsandMarkets predicts that the healthcare data analytics market will reach $50.5 billion by 2024, up from just $14 billion in 2019. 2