By harnessing the true power of data, healthcare providers can make both clinical and business improvements that transform the way they operate.
But data liquidity, when the right information is delivered to the right people at the right time, is not easy to achieve. Healthcare processes may be fragmented, and as a result, the data generated during the course of healthcare transactions is fragmented as well. It resides in siloed EHRs, claims processing applications, pharmacy systems, and more. Compounding the problem are new, but important sources of health information such as genetic data and patient-generated data.
Clinicians and other stakeholders rarely have access to the comprehensive, timely, accurate information they need. This lack of data liquidity makes it difficult to apply data for specific uses, such as managing quality indicators, and nearly impossible to leverage in support of “on the fly” questions and information needs as they arise.
Providers need to address the entire data value chain – collecting it from various sources, integrating and standardizing it, preparing it for analysis, and offering different tools for interacting with it in different ways – in order to reach full data liquidity. The right approach will help them leverage data more strategically for tracking clinical outcomes, making efficiency and quality improvements, promoting population health, enabling value-based care, enhancing patient engagement and experience, and much more.
Check out this informative podcast, “Data Liquidity, Not Interoperability, is the Key Foundation for New Value Based Payment Models” to find out more about data liquidity and what it means to your organization from Dan Foltz, Managing Director of Parnassus Consulting. You’ll learn how a holistic enterprise data management and analytics solution can help you overcome the challenges associated with achieving data liquidity. You’ll also hear how St. Luke’s University Health Network utilized the Omni-HealthData platform to harness its data sources and create an environment that truly enables data liquidity to support everything from performance management and physician practice management to quality and safety, patient experience, and market analysis.