The healthcare industry is one of the most quickly changing markets today. This isn’t just the opinion of healthcare providers operating in the sector, but also of DiAnna Peffley, Aunalytics’ Director of Healthcare Analytics.
Peffley has been with the company for a little over a year, but in that time, has learned much about the impact data analytics has on healthcare providers, especially when it comes to controlling costs and shining a light on strategies to improve efficiency.
“It’s a very complex industry with a lot of moving parts,” Peffley noted. “But it’s exciting to be a part of that while working to stay on the forefront and see the changes we can make in healthcare costs and overall quality of care.”
Cost: A prime focus
Peffley and Aunalytics currently work with four organizations in the healthcare industry, many of which are oncologists providing patients with cancer treatment. Within this environment, there are numerous complexities connected with payment, particularly when it comes to the provider being reimbursed by a patient’s insurance company. A single oncologist often deals with numerous different payers, as well as unique payment agreements for each one.
“There’s no other industry that has this kind of payment structure,” Peffley noted.
In addition to factoring in the different cost agreements oncologists have with each vendor, data analysts also need to consider the relationship between the healthcare provider and the payer, as well as the relationship between the insurer and each patient.
Because much of the data healthcare providers see is in a summary format, they don’t have the detailed insight they need. The type of in-depth analysis Peffley and Aunalytics completes can help pinpoint any disparities that can drive up the cost of healthcare.
“Analytics are a must-have for these healthcare providers,” Peffley said. “Given the lack of granular and transparent data, the healthcare community can’t determine their real cost in delivering healthcare. Not only do providers want a better handle on their cost, but the industry itself is under a microscope as the reimbursement model is changing and the practitioner will have to know their cost in order to survive. The most rewarding part of this experience is knowing that we will be able to impact healthcare costs and be a part of the healthcare revolution.”
Going beyond cost: Improving efficiency and care
“The type of in-depth analysis Peffley and Aunalytics completes can help pinpoint any disparities that can drive up the cost of healthcare.”
A deep dive into healthcare provider data doesn’t just highlight cost issues, though. Peffley and the Aunalytics team are also able to expose any problematic internal processes that could lead to an inefficient use of resources. Oftentimes, this goes beyond cost, and helps enable healthcare providers to improve organizational productivity.
“Even if clients go in with a focus on cost, other benefits emerge,” Peffley said. “The driver to look at this is because the reimbursement model is changing, there is widespread benefit to evaluating processes so you can improve cost allocation, improve processes and be more aware of your costs. The process of analyzing their data can naturally lead to better processes, greater dividends and overall better care for patients.”
A secure environment for data: Maintaining compliance
When it comes to their work with healthcare providers, Peffley noted that Aunalytics is very focused on data security and ensuring compliance with industry regulations like HIPAA. Much of this has to do with the support of Aunalytics’ partner company, Data Realty.
“Data is held and transferred in a very secure way in order to comply,” Peffley explained. “Data Realty is a top-rated facility with high security and redundancy throughout, so there won’t be an opportunity for failure that would prevent our clients from doing what they’re doing. We have plenty of backup to keep them operational and keep them running.”
What’s more, the Aunalytics team includes staff members that have experience in both data analytics and healthcare processes. Overall, Peffley, Aunalytics and Data Realty are in the best position possible to help healthcare providers boost efficiency while controlling costs.
To find out more, contact the experts at Aunalytics today.