The challenge at hand
Health system executives increasingly recognize that advanced analytics have the potential to radically transform how they conduct business moving forward. Yet, most organizations do not have efficient technological capabilities in place to realize these opportunities. For those that have made substantial technology investments to date, the majority of these have centered on disease management. Increasingly though, to remain competitive in the landscape, the value of implementing data analytics capabilities across the organization is being recognized and quickly becoming a necessity. As health systems face mounting pressure to improve outcomes and reduce costs, they will increasingly rely on sophisticated analytic tools to support better decision-making.
Today, healthcare remains a bit behind on the adoption curve, mainly focused on analytics that work as a rearview mirror. Decision-making driven by data, however, requires comprehensive analytics that offer far more than hindsight. Leaders prepared to take the long view will find that analytics can do more than rectify missteps in past clinical performance. When properly deployed, advanced analytics can serve as building blocks to broader, strategic decision-making in everything from market positioning, to care optimization, to risk. An advanced analytics engine not only harnesses data but also converts that information into actionable insight—core to improving and growing a business system-wide.
At All Covered, Konica Minolta’s IT Services Division, the Health IT Practice is spearheading the positive disruption of healthcare technologies to realize smart, intelligent healthcare powered by IoT, analytics and artificial intelligence.
Our Interoperability and Integration Services aim to provide this kind of robust platform to organizations. Our full portfolio of services, solutions and products positively change patient interaction and experience. By effectively unifying clinical data from all sources, including claims data, patient-reported data (from wearables and remote monitoring devices) and genetics data, the All Covered platform can help revolutionize how organizations manage patient care and ultimately drive the ability to lower the cost of healthcare.
All Covered’s healthcare data model and warehouse were designed from the ground up to store real-time discrete clinical data. The additional real-time clinical values allow for dramatic improvements in provider’s ability to assess risk acuity, allowing their care managers to focus on the right patients at the right time.
Waiting for claims to be processed and adjudicated can delay the care managers from receiving crucial information by 30 to 120 days. A patient’s health can deteriorate dramatically during this period, resulting in costly events, such as emergency visits and hospital admissions or re-admissions. Our goal is to provide real-time or near-time access to critical information and help prevent these avoidable events.
Physicians and healthcare teams entered their respective professions to practice medicine and provide care to those in need, not to be mired in administrative processes. We understand those challenges and designed our advisory services to help them better manage their value-based contracts by helping identify where the greatest needs are and deploying the right solutions at the right time.
Adding artificial intelligence and machine learning allows for earlier clinical intervention and introduction to payers, health systems, physician groups and community health programs to dramatically reduce future costs and generate additional revenue while improving quality of care for the patient. The service has helped healthcare organizations transform PCP engagement from care silos to care integration. Our customers use Patient Facesheet to engage their providers and front-line staff for their quality initiatives. Our Analytics and Advisory Services have helped healthcare organizations, like ACOs, save on an average of $3.4 million.
Konica Minolta’s All Covered IT Division works in close collaboration with healthcare organizations, resulting in advanced co-innovations. We strongly believe that open and collaborative innovation will brighten our future – evolving naturally into our lives and our workplaces.