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Value-Based Care Conference: Our Takeaways from the Value of Data and Analytics Session

Value-Based Care Conference 2023 Speakers

Pictured: Sara Pesko, Sr. Product Manager, Verato | Lou LaRocca, President & CEO, J2 Interactive | Don Woodlock, Vice President, Healthcare Solutions, InterSystems (Photographer: Rita Thompson)

This September, healthcare thought leaders from across New York State convened in Manhattan to discuss Innovations in Value-Based Care, hosted by Healthix, one of the largest public HIEs in the nation. We were honored to be included in one of the sessions, “The Value of Data and Analytics to Advance VBC Arrangements.” J2 Interactive President and CEO, Lou LaRocca, joined panelists from other Health IT organizations, including Don Woodlock, Head of Global Healthcare Solutions at InterSystems.

Here are our key takeaways:

Top of Mind? Data Quality and Standardization

It’s no surprise that the data panel focused on the importance of data quality, consistency, and standardization. We need to continue to dedicate resources to data governance, terminology normalization, and efforts to improve data quality as essential components for a more effective healthcare data ecosystem.

Is it bleak, then? No way!

The panel expressed optimism about years of progress made in data interoperability, especially through the adoption of standards like FHIR. Just remember that the healthcare data landscape is evolving and improving, but it’s a continuous journey. Challenges remain, especially around integrating social care data, but if we keep collaborating (like at this conference) and keep fostering innovation, we will achieve better patient outcomes.

How does VBC come into play?

Value-based payments and risk delegation require a holistic understanding of patients, (including their social needs), to deliver wellness beyond traditional medical care. The speakers highlighted the need for comprehensive data to effectively manage risk.

What’s missing, then?

We have to adopt flexible data models that can accommodate various perspectives and interpretations of data, especially when dealing with social determinants of health. Plus, that data has to be populated. Let’s develop the role of incentives in driving data standardization and innovation, with a focus on rewarding efforts that matter most rather than just chasing what is already measured. Including incentivizing data collection itself!

Final words?

Be brave and set ambitious goals. Through collaboration and innovation, we can achieve the dream of a holistic patient view, including social determinants data. As Moderator Greg Allan of Helgerson Solutions Group put it, “This is crawl, walk, run, but we should set the vision for ourselves to be great.”

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J2 Interactive is an award-winning software development and IT consulting firm specializing in customized solutions for hospitals, labs, research institutions, and health information exchanges.

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J2 Interactive

J2 Interactive is an award-winning software development and IT consulting firm that specializes in customized solutions for healthcare and life sciences.