Big Data and the Challenges it presents for Risk Adjustment
8.25.2016 By AVAILITY
Availity Access provides a glimpse into the people behind our products. It features commentary on challenges facing the healthcare industry and how Availity can help providers and health plans better share patient information. In this episode we discuss big data and the challenges it presents for risk adjustment.
Much has been written about “Big Data” and its potential for helping companies turn information it collects into critical business insights. Customized product recommendations from online retail vendors is one example of big data at work, but companies are also using it as a tool for many strategic decisions, including pricing, staffing, and product development. As the health care industry transitions from fee-based to value-based care models, big data holds a lot of promise for health plans and providers who are looking for better ways to measure value and assess risk within patient populations. One important area data is risk adjustment.
The video discusses why the rapidly changing variables that factor into risk adjustment models makes it critical for health plans to have accurate and timely data. While high-quality data is essential for health plans, it’s a frequently a challenge. Our hosts discuss why this is the case and potential solutions to the problems health plans are trying to solve.