July 11 2016 | 0 Comments | 539 reads Average Rating: 4.5
Payers and Providers: 3 reasons to get together
"Two heads are better than one." It's a common axiom that is widely accepted.
Healthcare payers and providers, however, have traditionally been a bit reluctant to embrace the concept in the past, as they preferred to tread their own paths while working to improve care, enhance patient experiences and reduce costs.
But collaboration is becoming more important as value-based care and reimbursement models are driving closer alignment of clinical and financial outcomes. Here are three reasons why payers and providers need to drop the lone ranger attitude and start to collaborate:
Comingling of payer and provider data can provide a 360 degree view of patient behavior allowing for new insights like impactability (a measure that shows which patients/members will benefit most from a particular plan of care or treatment ) and intervenability (a measure that determines patient/ member’s willingness and ability to follow a plan of care). Having access to a complete set of data makes it possible to accurately assess how and where a patients seeks care. For example, if a provider can access additional sources of data that shows a patient with chronic diabetes has also been diagnosed with heart failure, then the provider can better assess intervenability and suggest appropriate integrated care strategies.
#2: Data Transparency
Transparency of data on both sides of the coin will ultimately serve patients better. Rather than viewing each other as opponents in a battle for control over patients/members, payers and providers need to focus on ways to use data to serve patients and the community. With transparency into data, providers and payers can collaborate to work with the high risk populations that benefit all stakeholders. With full transparency of data, opportunities are less likely to slip through the cracks. For example, with alignment around the needs of an impactable high risk population, payers and providers could identify opportunities to work together to deliver care management programs for these populations. A win-win for both sides.
#3: Payer-Provider Collaboration
Working together, payers and providers can better engage patients. After identifying patients who show a high degree of intervenability and impactability, providers and payers can combine efforts to ensure that patients understand and adopt the strategies that will help them optimize their health. Through such collaboration, patients also will see the complete picture of how their active participation in their own care, can realize improvements in their health but that could also benefit them financially under high-deductible health plans.
These are just a few of the reasons why providers and payers should collaborate. Can you think of others?