Technology ROI

Healthcare organizations require data analytics to succeed in the emerging value-focused healthcare environment, and through data monetization, in which they use these assets to create economic value, they can realize the value of their investment in the analytics. 

Electronic health records can be a useful population health management tool.

A healthcare organization’s ability to sustain high-value care delivery and ensure its long-term strategic financial viability depends on how effectively it applies data analytics to inform improvement efforts related to quality, cost, and patient experience. 

Indirect communication among primary care team members using EHRs is associated with increased hospital visits and higher medical costs for their patients with diabetes, according to one study. Researchers found that medical costs rose by $223 per patient with diabetes in a six-month period for every increase in one percentage point in indirect communication.

Technological advancements present an opportunity for healthcare organizations to monetize data.

Setting aside less than one percent of operating revenue for innovative projects can help organizations improve patient services and advance the Triple Aim. “The high performers in innovation are not necessarily the high percentage investors,” says Adam Ward, an innovation consultant.

Although access to technology provides a strong draw in merger and acquisition activity, concerns remain regarding culture fit and high valuation multiples. As always, let the buyer beware.

Gary Hamilton describes the ways healthcare organizations can use technology to engage patients. 

Healthcare organizations that adopt a managed equipment services model will be better equipped to face the challenges of the industry.

A Texas hospital used big data to improve processes in magnetic resonance imaging.