Accelerating ROI for Clinical Data Tech: When a Member’s Health is on the Line

For digital healthcare investments, speed of implementation not only affects the financial bottom line and end-user retention–the repercussions play out in patient care patterns, clinical decision support strategies, and care gap identification. Realization of technology investments is critical for improving STAR ratings and HEDIS® measures in a timely manner and for producing the outcome and performance measures required in value-based care contracts. For health plans, and the members they support, time is of the essence.

Too often, however, it takes months (or even years) to implement a healthcare technology service whose purpose is to simplify processes and produce actionable metrics more efficiently. The result of this lag time? More employee frustration with workplace technology and more Chief Information Officers (CIOs) once again struggling to demonstrate the value of IT investments to their business. A recent survey from Gartner reflects the frustration CIOs feel when tasked with overseeing this process and demonstrating the value of their investments.

Simply put, there is a time-to-value problem in healthcare interoperability and quality measurement. Verinovum can offer a solution.

The Challenges

Digital technology investments are purchased with an eye to the value they will offer. Platforms need to support the healthcare ecosystems of payers and providers. Operational, financial, and clinical tools should improve a system’s efficiency and produce measurable results. Realizing that ultimate value typically involves a drawn-out process of installing, connecting, training, and configuring tools to work together, followed by multiple new-user technology education sessions. Healthcare, with its constantly evolving treatments, protocols, and regulations, is one sector that cannot afford to wait months or years to make course corrections and decisions.

When Gartner surveyed more than 2,000 CIOs, they identified the predicament CIOs are in–on one hand, an average IT budget increase that falls short of the global inflation rate, and on the other, the “triple squeeze” of economic pressure, supply-chain issues, and talent gaps all impacting the time-to-value. CIOs are expected to do more with less. And they are expected to do it quickly.

The significance of time-to-value is compounded in healthcare, where the rapid collection, synthesis, and analysis of data is of paramount importance in care interventions. Identifying care gaps and addressing them quickly is essential for care management and clinical decision support. A report on “Opportunities and Challenges in U.S. Healthcare Operations” found that nearly a quarter of CIOs surveyed cited enabling clinicians as a top priority–one that can’t be met when time-to-value is a months-long wait. With little time between application periods, payers evaluating how to improve their STAR ratings and HEDIS® measures need to identify areas for improvement quickly. In addition, value-based care contracts require outcomes and performance measurements. Likewise, actuarial calculations rely on accurate, current data to measure risk.

Verinovum’s Solution

Under a slew of pressures, CIOs–especially in healthcare–are expecting accelerated time-to-value for their digital technology investments. Verinovum recognizes how crucial an efficient path to actionable data is, given how much timely insights from quality clinical data can impact payer and provider performance.

We aggregate, verify, and optimize clinical data. We help payers, systems integrators, and technology partners improve quality reporting, clinical analytics, care coordination, population health, and risk adjustment. Our DCaaSSM solution ingests, curates, identity resolves, attributes, governs, and transmits clean clinical data. Our partners achieve faster time-to-value with superior flexibility. We focus on the use cases most important to you and aggregate disparate data to create a complete picture. We also help reduce administrative burden. With a clean and complete data foundation, you can address your most pressing clinical and business decisions while saving the time and cost of manual data retrieval and delivery.

Verinovum is pleased to announce that, in 2023, we are releasing a platform that can ingest clinical data in a variety of formats–HL7 2.x, HL7 3.x, and FHIR–and, process, standardize, normalize, and enhance your clinical data with only a two-week turnaround time. Learn more about how Verinovum can improve data usability by 500% in as little as two weeks.

1HEDIS® is a registered trademark of the National Committee for Quality Assurance (NCQA).