Last updated: July 28th, 2020
Making Sense of the Healthcare Information Management Software Market
As with any industry, healthcare has its own set of challenges and solutions for information management. Whether you’re a healthcare provider trying to improve care management or an insurance company trying to provide the best – and most efficient – interface between your customers and their healthcare providers, you need to speak the language of healthcare technology.
As an analytics and information management software vendor, Information Builders understands the issues and can help you navigate through the complex maze of technology solutions available for the healthcare market. The first step is understanding the common buzz words and phrases used to describe the various technology issues affecting the healthcare industry.
Let’s look at current hot topics in healthcare technology. We’ll start with a few of the most popular terms here.
- Healthcare Informatics: Data management that provides long-term views of patient information across the continuum of care. Healthcare organizations receive a great deal of electronic data from EMRs, HIEs, digital imaging scans, insurance claims data, and more. If these sources are not interoperable, then it’s critical to enable healthcare informatics if you want to support deep and precise analytics.
- Value-Based Care: A strategy that manages the exchange of patient and clinical data to enhance the quality of care. Effective use of data is essential in the move to value based care solutions and value based care software. However, there’s a lot of data to contend with, and it comes in many formats from many places – clinical and claims systems, HR and financial applications, and third-party sources.Efficient management and exchange of patient and clinical data across the continuum of care – from arrival, admittance, and assessment, through diagnosis, treatment, and follow up – is vital to optimizing clinical decision support, and ultimately, quality of care.
- Health Information Management: Data management in healthcare organizations and associated businesses. In conjunction with effective BI and analytics, health information management is essential when moving to value-based and patient-centered care. It works best if companies have a plan and supporting solutions that promote this practice soundly. Managing your healthcare data on a unified platform is a strong way to start – it supports integration, data quality and mastering activities. Healthcare information is collected and aggregated from various sources, (EMR, financial, external, et al.) after which you must ensure its accuracy, completeness, and consistency.
- Clinical Data Exchange: Sharing of data within unrelated healthcare information systems. This can be a key element for a healthcare organization in lowering costs, driving value and enhancing the patient or member experience. As major stakeholders in the health ecosystem, payers are now focusing on creating their own data exchange with external provider data sources to drive their value based care delivery and reimbursement models.
- Population Health Management: Patients partnering with their physicians and care teams to detect, prevent, and treat prolonged conditions and diseases. The benefits of population health management include better care management programs that eliminate gaps in care, enhanced coordination across providers, and improved clinical and financial outcomes. Population Health Management can be achieved with effective collaboration between the clinical teams and the IT organization, along with population health software and population health analytics.
- Accountable Care: The push to improve patient outcomes and access, while lowering costs. What healthcare organizations need is patient-centered accountable care. Where the right provider delivers the right care at the right time and the right price. Where health services are optimally synchronized, sick care becomes well care, and advanced clinical integration and care management strategies are enabled. In the meantime, regardless of the business model, healthcare firms must operate a sustainable, profitable enterprise.
Watch this space for updates as we continue to explore these topics.