The biggest challenge for hospital leadership in today's post-reform era is aligning clinical and financial goals. Many healthcare providers believe that Quality of Care and Cost of Care are conflicting ends of a spectrum - success with one is at the expense of the other. Hospital systems lack tools to perform joint cost-quality visibility analysis to identify the financial impact of quality improvement opportunities. In addition, most of the cost savings projects do not proceed as they are unable to show the quality-of-care impact as a result of implementing such projects.
Perceptive hospital leaders realize that overall performance and achieving ACO status begins with successful Clinical Integration throughout the care continuum. Because physician decisions and actions impact 70-80% of the hospital cost structure, leaders start to ask the question, "Do we really understand how to engage physicians to align their interests with ours?"
Physicians often resist clinical process change. It's easy to understand why. The usual approach to communicate with them is project based and anecdotal. But, from their perspective, they have been trained to respond to research and facts. Alternately, when faced with a holistic view, backed with data, they respond enthusiastically. Hospitals need "actionable insight" for productive communication with physicians. Traditional hospital decision support systems offer only department-centric information, creating silos and many versions of truth. Without patient-, process- and outcome-centric intelligence, hospitals lack transparency around cost of care and quality of care data by physician.
VitreosHealth: VitreosHealth has pioneered the use of Physician Value Index, a tool to measure physician performance along the cost-quality curve. By performing joint cost-quality analysis, Hospitals can segment their physicians/specialists into high and low performers. VitreosHealth also enables rapid what-if analysis to understand the impact of converting the low performers to high performers through order set standardization or other approaches. Since VitreosHealth combines cost and quality data, the what-if analysis determines impact of cost reduction on quality and outcomes. To understand how VitreosHealth addresses the Physician Integration challenges, please read how Physician Value Index can be used and request a demo.