Impact analytics are raising the bar in value-based contracting (VBC) and outcomes-based compensation (OBC).
With guidance from business coalitions on health, human capital consulting firms, and data science organizations, pioneering employers and other healthcare purchasers are sharing a broad range of pharmacy benefit and medical insurance claims data.
They’re studying correlated and causal relationships among payers, providers, and products and desired business endpoints.
For example, with dynamic dashboards and scorecards powered by Tableau, Qlik, and related solutions, these healthcare purchasers can get real-time or near real-time reporting on…
- economic, clinical, and humanistic outcomes (ECHOs);
- per capita costs, population health, and patients/practitioner experiences (i.e., the Triple/Quadruple Aim);
- the incidence, prevalence, and cost of diseases and other adverse conditions;
- the wellbeing, productive capacity, and socioeconomic status of individuals, organizations, and communities; and
- the speed of progress toward a better functioning society.
Data sharing and data science create unprecedented transparency around clinical practice patterns and their effects—so much so that real-world data (RWD) collaborations are proliferating and real-world evidence (RWE) of safety, efficacy, and cost-effectiveness is emerging as the new gold standard in value-based contracting (VBC) and outcomes-based compensation (OBC).
Those carrying the burden of healthcare cost escalation are comfortable giving healthcare’s superstars—the health industry’s good actors—the rewards they deserve.
At the same time, healthcare’s purchasers want to give mercenary bad actors “no place to hide.”
Interested in learning more?
ReimbursementIQ is providing two-hour executive briefings essential to success in an era of 360-degree performance, outcomes, and impact accountability.
Contact us for more information on how to get your leadership and work teams in the know.