Value-based care (VBC) is a healthcare delivery model that differs from traditional fee-for-service because rather than compensating providers based on the number of services provided, it ties the amount providers earn to the results they deliver for their patients. The quality of these healthcare services is measured by patient outcomes that are based on metrics such as rate of hospital readmission, timeliness of care, and overall patient satisfaction. This VBC model holds providers
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Health IT & Digital Health-Opinion | Op-Eds | Guest Columns | Analysis, Insights - HIT Consultant
How AI Can Deliver Benefits in Healthcare Manufacturing and Patient Device Usage
According to Grand View Research, the global artificial intelligence (AI) in healthcare market size was valued at USD 15.4 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 37.5% from 2023 to 2030, to reach an estimated USD 208.2 billion. That’s an impressive growth rate, indicating the expected value delivery to a mostly early-phase adoption of AI in the healthcare marketplace. With such aggressive predicted growth, many health industry professionals may ask
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How to Improve Patient Confidence When Rolling Out New Medical Technology
A staggering 55 percent of patients have lost trust in a healthcare provider after a negative experience. Sometimes, that trust is broken during interactions with a medical device or digital therapeutic. Maybe a patient’s diabetes management app uses overly clinical language, or perhaps it doesn’t walk them through every app feature. For many patients, it’s clear that new medical technology (or medtech) isn’t effectively providing the experience needed to improve their medical
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FWA Is Increasing. Healthcare Costs Are Spiraling. Now There’s A New Generation Of AI Technology To Take Back Control
In 2020, the Department of Justice estimated that fraudulent, wasteful, and abusive (FWA) billing practices account for more than $100 billion of the nation’s healthcare expenditures.1 Today, the National Healthcare Anti-Fraud Association (NHCAA) conservatively estimates that healthcare FWA costs the nation about $68 billion annually, representing 3% of the nation's $2.26 trillion in healthcare spending.2 FWA estimates from commercial health plans range as high as $230 billion annually, or
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How Healthcare Providers Can Bolster Cybersecurity Defenses and Protect Patient Data
In IBM’s 2022 Cost of a Data Breach report, the company revealed that the global average cost of a data breach was $4.35 million. In the healthcare sector, however, that number skyrocketed to $10.1 million. Why is an attack on a healthcare organization so much more costly? While part of this comes down to the fact that healthcare organizations often have big budgets, and so might be able to pay big ransoms, the biggest part of the answer is consequences. In there, real lives are at stake. Downed
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Healthcare Considerations: Addressing Cyber Risk in the Healthcare Industry
In 2020, the Dental Care Alliance (DCA) experienced a significant cyberattack on its systems, which lasted approximately an entire month. This gave the threat actor an extended period to compromise the healthcare organization’s servers and extract the private and confidential information of around one million patients. This is just another example of how vulnerable the healthcare industry is to cyber criminals looking to exploit security weaknesses. Healthcare organizations are prime targets
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4 Keys to Modernizing Public Health Data Collection and Analysis
The COVID-19 pandemic shined a spotlight on the urgent need to modernize the nation’s public health system. Despite success in rapidly developing vaccines, the unprecedented public health emergency also exposed significant gaps in U.S. public health infectious disease data collection and analysis methods which are critical for identifying behavioral risk factors and preventive actions. The Problem Unfortunately, inefficiency remains a hallmark of the U.S. public health surveillance system
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The Next Era of Healthcare Will Be Built On These 3 Principles
The U.S. healthcare industry has hit an important inflection point. The global pandemic highlighted an increased need to deliver quality patient care. However, outdated, legacy technology is straining many health systems, and in some cases, exaggerating existing problems such as rising operational costs and high rates of attrition. Health and hospital systems must take a purposeful approach to IT modernization — which includes embracing new technologies — to ensure success. And while each IT
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IT Infrastructure: Creating A Culture of Security In Your Hospital & Health System
It’s a fact: More than 80% of data breaches involve a human in some way. That could involve someone falling for a spear-phishing campaign designed to solicit credentials, clicking on a malicious link, or a simple error that leaves a security vulnerability open to bad actors. Creating a culture of security in your organization will keep security at the forefront of everything from operations to care delivery. Monitoring and maintaining the security of IT infrastructure is often overemphasized
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The Importance of Decoding Health Data to Every Organization
To the observant onlooker, data is everywhere. From spending habits to hospital visits, humans are walking treasure troves of information. As technology has exponentially improved in the last 20 years, so has the collection of data. In 2010, a mere two zettabytes of data were created, captured, copied, or consumed. In 2020, estimates put that number at 79 zettabytes. Data collection goes hand-in-hand with the revolution of the Information Age — since the 1970s, unprecedented digital
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