Leveraging data analytics to create patient-centered, cost-effective health-at-home models of care
Last fall, Health Evolution organized and facilitated a discussion with WellSky CEO Bill Miller, former CMS Administrator and current WellSky Board of Directors Member Seema Verma, and Optum Care Services CEO Scott Theisenon one of the biggest trends in healthcare: the shift to home. The conversation was wide-ranging and insightful, with the three healthcare leaders offering their insider’s perspectives on everything from changing consumer preferences to making the most of data to improve health outcomes.
Their insights were compiled into a new Outlook report. Here’s a quick look at the top takeaways.
Consumers prefer to receive care at home
As of 2020, only 4% of consumers experienced in-home care. But those numbers are rising steadily. A PwC report found that 78% of consumers are interested in remote care for a chronic care visit, and 77% are interested in remote care for a sick visit or injury. Miller, Verma, and Theisen all agree: Digital tools have helped home-based programs gain traction in the healthcare community
Harnessing data puts providers ahead of the game
To capture actionable data, healthcare providers must have access to innovative and intuitive technology. During the panel, Miller noted that as healthcare organizations build data lakes, providers can learn from the data collected and apply insights that inform decision-making. The panel found that this data will be incredibly important as organizations enter risk-based and value-based care agreements.
Diversifying care models will lower the cost of care
Studies show that medical costs are projected to rise 6.5 percent in 2022. Payers and providers must work together to provide quality care at lower costs. To do this, payers must partner with organizations who provide health-at-home models of care. Studies conducted by the American Academy of Home Care Medicine have shown home-based primary care can save CMS up to $1000 per beneficiary. The panel found that lowering healthcare costs will require health systems and providers to invest in multiple care models, modalities, and digital tools.
You can read the full report to learn more about the shift to home-based models of care.