WEST HARTFORD, Conn., July 19, 2017 /PRNewswire/ -- SCIO Health Analytics today announced that the third chapter of its eBook on behavioral analytics, "Impactability: Maximizing Opportunities and Reducing Risk through Data-Driven Prioritization," is now available for download at: http://bit.ly/2u34A7v
The third chapter of the eBook discusses how payers, providers, and life sciences organizations can leverage data to identify where care gaps across their population exist, prioritize the gaps that will deliver the greatest financial impact, and predict the outcomes based on different approaches to addressing the gaps. This concept is known as "impactability," and helps healthcare organizations to make better, more-informed decisions.
Performing this type of analysis requires data from a multitude of sources – clinical, claims, financial, pharmaceutical, utilization, cost, socioeconomic, demographic, genomic, and others. It also requires sophisticated, next-generation analytical techniques to develop predictive models that can deliver insights. Organizations then use these predictive models to run "if-then" scenarios that forecast with a high degree of reliability the outcomes of different decisions.
The output of the predictive models is an impactability score that shows at-a-glance where organizations can achieve the best return on investment. With this information in-hand, organizations can more easily set priorities for where to expend their limited resources to deliver the outcomes they desire.
For example, care managers can obtain impactability scores for their entire member rosters to determine and compare the clinical and financial benefits of closing certain care gaps for individuals with chronic conditions. Separately, provider organizations can map impactability goals to their internal operations as a means of influencing physician behavior and decision-making, factors that are crucial to the success of value-based care initiatives such as accountable care organizations and bundled payments. Similarly, life sciences organizations can realize substantial value in understanding patients' impactability during a period when these organizations are being asked to take on additional financial risk around their drugs and/or devices, and as they look for new sources of revenue.
"With the healthcare industry transitioning to value-based care and shared risk arrangements, the ability to use predictive analytics to get in front of health trends rather than reacting to them later is critical to healthcare organizations' long-term success," said Lalithya Yerramilli, vice president of analytics for SCIO Health Analytics. "To thrive in this quickly changing environment, providers, payers and life sciences organizations must employ data-driven methods to prioritize their greatest needs and opportunities so they can apply their limited resources most efficiently and effectively. Assessing the impactability of various approaches to closing care gaps will help organizations deliver the greatest return on investment, whether that return is measured in improving sales, reducing losses, eliminating outliers, delivering better health outcomes with greater patient satisfaction or another form."
Future chapters for the eBook will address:
- Leveraging behavioral data to improve patient outcomes based on past actions, increasing the likelihood that interventions will be made where they have the greatest impact
- How organizations can use behavioral analytics to structure programs to ensure compliance with care plans, prescriptions and/or medical device recommendations
- Determining the best approach to change management through the use of behavioral and attitudinal analytics in order to achieve goals in standardizing care
This eBook is part of a series of chapters: Chapter 1 - Big Data, Big Business: Creating the Understanding that Drive Change in Healthcare, and Chapter 2 - Personas: Understanding the Human Drivers that Influence Health Outcomes.
About SCIO Health Analytics
Based in West Hartford, Connecticut, SCIO Health Analytics is a leading health analytics solution and services company. It serves healthcare organizations across the continuum including over 20 provider groups and 30 health plans representing more than 90 million members, four of the top six PBMs, and clients in 30 countries for 8 of the top 15 global pharmaceutical companies. SCIO provides predictive analytic solutions and services that transform data into actionable insights, helping healthcare organizations create the understanding that drives change through care, network and reimbursement optimization as well as commercial effectiveness. SCIO's insights as a service approach supports the shift to value-based care, solving healthcare problems simply and efficiently. Visit SCIO's new website for up to date information on their product and solution offerings: www.sciohealthanalytics.com
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SOURCE SCIO Health Analytics