April 03 2018 | 0 Comments | 126 reads Average Rating: 3

HealthLeaders Buzz Survey Results: Data Challenges Stand in the Way of Managing Care Costs

by SCIO Health Analytics in Health Analytics

“Managing Care Costs,” a study conducted by HealthLeaders Media and sponsored by SCIO Health Analytics, concludes that the lack of data on the true cost of care is standing in the way of sustainable cost reduction efforts. Indeed, only 36% of the 142 healthcare leaders who participated in the survey reported that they could determine the true cost of care for all or most of the care provided, while 51% said they could do it for some care provided, and 13% said that they were unable to determine the true cost for any care that they provided.

The survey results shed light on what types of data are not accessible; the challenges that are preventing greater transparency; and how organizations are struggling to more effectively leverage data analytics.

In short, the survey illuminates some of the obstacles that are preventing healthcare organizations from leveraging data as a strategic asset.

While healthcare executives would like to determine the true cost of care, several roadblocks stand in their way. Indeed, a variety of obstacles were cited by the survey respondents – and need to be dismantled before organizations can arrive at a more complete understanding of costs.

Healthcare leaders are finding that it is difficult to access many types of valuable data which, in turn, makes it difficult to see the full picture.

Lack of access is just one of the data challenges that healthcare leaders are struggling with. A myriad other challenges also plague healthcare executives as they try to take advantage of data analytics.

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To learn more about the study, check out the HealthLeaders article titled Fragmented Data Can Be Barrier to Population Health, Healthy Margins.

If you care interested in learning more about the SCIO solutions that support providers in driving population health outcomes, including managing the total cost of care, contact us now.

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