The High Value of Patient Data
These days, patient data is like gold, becoming increasingly valuable across the home care industry, and it can be used in a variety of ways by the various entities involved in patient care. For example, you and your referral sources can use it to assess patients’ responsiveness to particular therapies, services and devices, and payers can assess whether they are paying competitively for these items and can use the data to define new fee schedules for those that are most effective. Even manufacturers are asking for patient data to help them ensure that they are developing cost-effective solutions.
Like most technology today, your software is already collecting patient information, including:
- Financial information, including payer, benefit levels of coverage and financial status
- Clinical information, including diagnoses, therapies provided and patient assessments (vitals, labs and other specifics gathered on clinical visits)
- Demographic information, such as age, address, region of residence and travel habits including alternate addresses
With the right analytics tools, you can delve into the data and produce detailed reports, and you may be able to export the data, so it can be manipulated in additional ways. However providers should educate themselves on HIPAA laws and limitations as to how much of the data they can share and/or how that data should be handled once outside the application, which should have security associated with the access to that patient-sensitive information.
For your own marketing purposes, you could identify patient demographics and clinical information to determine:
- If there are other products and services that you provide in which your patients may have interest
- Your expertise in a particular area of patient service based on number of patients cared for within a specific disease state or using a specific product
Whatever you choose to do with your gold mine of data, be sure to refer to applicable HIPAA laws to understand what is appropriate to share and what is not. Never release patient names or other personally identifiable information to the public.
See how Mediware helps you manage your data today!