How Technology will help to shift to Value Based Health Care
- industry Highlights
- 4 years ago
Value-Based Health Care
The health care industry is on the verge of a paradigm shift. As health care systems focus more on how best to use the limited resources at their disposal, and patients demand more from their health care providers in terms of experience and results, the entire industry must adapt its approach. By placing more focus on utilizing the abundance of available data in order to analyze the efficiency and results of specific treatments, the health care industry can achieve great gains in terms of patient care and resource allocation. This can be achieved by leveraging recent technological developments.
Embracing new value-based medical treatment models
The change in the health care industry is inevitable and can only be achieved and measured through the appropriate use of technology. By putting this technology to work the industry can provide value-based health care, or in other words, health care that puts patient needs at the center.
Value-based health care will inevitably change patients’ lives globally, regardless of the fact that it is happening slowly and is based on thorough testing and research.
This approach will bring changes in terms
- Of the efficient allocation of resources;
- Trust to health care providers as they begin putting more emphasis on patient value.
In order for this model to take hold, companies will need to develop appropriate tools utilizing the available technology, and this is luckily already happening.
Sqilline, a health care data analytics company, is one of the global technology solutions providers of software products for measuring data in value-based treatment. This data measurement is a key aspect of the value-based model, as it analyzes the available data in determining which treatments produce the best outcome and patient experience.
Innovative Technology Solutions
As an innovator in the technology value-based health care, Sqilline is focused on creating solutions for Oncology and Cardiology. Sqilline is committed to delivering innovative technology in this area, as demonstrated through the introduction of its Prediction Analytics tool DANNY. It is just such tools that will help to move the industry forward by leveraging the mass of available data in order to determine the best health care solutions.
Designed to serve the goals of the new value-based health care model, DANNY is a big data analytics tool for real-world data, using the SAP HANA DB.
DANNY prediction analytics features are developed to analyze data in the fields of oncology and cardiology. When implemented in medical practice at a hospital, DANNY will guarantee that the institution is answering the standards of a high value-based health care provider.
Value-based health care is all about embracing the patient’s expectations for their health care experience and putting them at the forefront of any health care institution. The data collected globally through appropriate technology solutions such as DANNY will help to more adequately predict and forecast treatment approaches and personalized treatment measures.
A value-based health care practice should be able to consolidate all processes:
- Patient data and electronic records;
- Personalized treatment;
- Predictions of patient survival.
Standards of a high value-based health care provider oblige practices to:
- Publish treatment outcomes;
- Measure expenses;
- Keep electronic record;
- Share data in an effort to provide the highest value to patients.
This can happen only with a technical solution designed specifically for that purpose and requirements.
Based on the SAP HANA DB, the company big data analytics tools could serve the needs of many clinical areas, using big data to facilitate and improve the new health care model. Big data can help the process of improving the whole medical system, patients’ lives and the quality of the whole health care ecosystem. These big data analytics will lower costs in the medical practices, without compromising the quality of the treatment.
As recent history demonstrates, reform in the health care system is quite challenging but necessary. The change towards value-based procedures lies in expecting better treatment with less money. This is possible only through technology that will enable providers to make the transition smoothly and expect better results with lower treatment costs.
Implementing the new value-based model
Hospitals will embrace the new model mainly through patient advocacy, but value-based health care technology solutions will also play an important role by providing institutions with the appropriate tools to truly put patients at the center.