Success in VBC initiatives depends on smart pop health strategies
Population Health Management (PHM) is the buzzword of the moment when it comes to success in value-based care initiatives. There’s a good reason for that – done right, PHM has a strong chance of helping providers realize the goals of the triple aim and generate real revenue to reinvest in their organizations.
Don’t let all of the buzz distract you from reality. As we’ve learned from watching Big Data’s hype cycle, it’s important to focus on how you can make PHM work most effectively for you. It’s becoming clear that simply purchasing a PHM solution isn’t the silver bullet that’s going to deliver success.Making the most of your PHM solution and strategy requires evolved thinking – we offer the following five tips to help you transform your practice into a PHM powerhouse:
1. PHM is all about the outliers. When you analyze the data you’ve gathered from your patient population, it’s important to understand the high-level takeaways first, then drill down into the details to develop and refine your PHM strategy.
2. Interoperability is about more than aggregation. The way the industry understands and tries to use interoperability is in desperate need of revision. Make sure you understand how to optimize the disparate pieces of your operating systems or platforms before you try to implement an effective interoperability solution.
3. Social determinants matter. Whole health means whole health. Taking mental health and behavioral health into account for each patient is a critical component of PHM success, but you also need to be aware of the social determinants that are impacting the ways your patients think about and engage with their own healthcare.
4. Think like a payer. The winners in VBC in years to come will be the providers who most effectively close the gap between payer and provider. Do all that you can to define and align the individual needs of your office, your payers, and your patient to make a successful outcome for any is a success for all.
5. There’s no room for ego in PHM. Making the kinds of changes that will allow PHM and VBC initiatives to succeed means there needs to be organizational understanding of why you’re making the changes and a commitment from the staff at every level of the organization. That demands behavioral and mental changes – and means that there’s no room for bad attitudes.
While the future of healthcare is in a state of flux as the new administration takes hold, predictions for the long-term viability of VBC initiatives are showing that it’s here to stay. With that, the need for an effective PHM approach is critical – and that goes beyond the right software solution. We've taken a deeper look at these five items in our recent article -- take a look to learn more about how you can most effectively plan for the long-term success of your PHM approach.