Health care is changing. Seize the opportunity to improve lives.
As the U.S. healthcare system becomes more complex with only modest gains in outcomes and quality, the industry is focusing on new delivery models designed to improve population health and new payment models, such as value-based care contracts. This transformation poses several challenges for both commercial and government payers. They must find ways to manage costs, improve member health and collaborate with providers—all within a changing regulatory environment.
3M’s healthcare transformation solutions are designed to help payers, managed care organizations and provider-owned health plans change fragmented, encounter-based health care into integrated, value-based systems, such as accountable care organizations (ACOs) and population health management programs.
Through analytics and strategic support, 3M prepares organizations for population health, payment transformation, risk assessment and value-based care.
Whether you want to build programs for population health management or accountable care, experiment with new payment models, or forge community partnerships to improve market competitiveness, a solid data foundation is the place to start.
Creating a data foundation involves acquiring, aggregating and refining disparate information to produce a relevant dataset. While harmonizing multiple sources of data may sound straightforward, it’s a complex process that must be approached with intense care and skill—your dataset will guide and support you in every effort to increase value. If data integrity is not high, the result can be poor patient health outcomes and sunk costs.
3M’s data warehousing and aggregation services use claims data to produce a dataset of reliable, actionable metrics on cost, quality, access and value—preparing you for the evolving world of value-based care.
Healthcare providers generate volumes of patient information that result in coded medical records. This coded data helps providers, regulators, payers and consumers understand the value of patient care, giving insight into patient mix, expected reimbursement and quality outcomes. 3M’s classification and grouping methodologies help commercial and public payers, managed care organizations and other payers analyze coded data to develop risk-adjusted reimbursement rates, accurately assess member health and reduce healthcare waste.
What is value-based care? Put simply, it is the intersection of cost and quality. Value-based care involves any structure where care is reimbursed based on clinical or financial outcomes, instead of the number of services rendered. Alongside payment changes, value-based care programs focus on measuring the overall health of a patient or a patient population, rather than individual units of care.
The move from fee-for service reimbursement to value-based care, and the focus on population health, is becoming the obvious transition for payers who want to reduce costs without sacrificing quality. But designing, implementing and remaining successful under these programs can be difficult. It calls for sophisticated technical capabilities and data-informed strategic support.
To ease the process, 3M combines payment-related methodologies, program design, reporting and analytics tools, and consulting services to help healthcare payers implement and manage value-based care programs collaboratively with providers.