A new survey from TransUnion Healthcare reveals only 37% of payers and 58% of healthcare providers are very confident that their member/patient demographic information is correct, reported the company.
Healthcare organizations are finding a gap in their access to accurate and reliable data used to engage their patients and members, particularly with the ongoing clinical, financial and socioeconomic impacts of the COVID-19 pandemic. The survey explores the data challenges facing providers and payers today. Survey respondents included 100 leaders at healthcare payer organizations and 100 leaders at healthcare provider organizations in the United States.
“The healthcare ecosystem is Driven by data which helps to verify patient identities, determine socioeconomic risks and identify affordability gaps, in order to reduce uncompensated care and improve outcomes. In light of COVID-19’s disparate impact on disadvantaged populations, providers and payers need access to data that reflects a patient’s current situation,” said David Wojczynski, President of TransUnion Healthcare. “Our latest survey indicates healthcare organizations are struggling with data accuracy which underscores just how critical it is to use the right resources, tools and expertise to acquire reliable and correct data.”
Lacking confidence in the accuracy of member/patient demographic information can lead to further challenges in ensuring positive experiences and outcomes for patients. Inaccurate data can also have negative financial consequences for both organizations and patients. With this in mind, comprehensive and validated data is critical for providers and payers to have a holistic picture of a patient’s social, clinical and financial situation, particularly considering the increased financial pressures due to COVID-19.
Precise and actionable data contributes to strong member/patient engagement, improved efficiencies and reduced expenses. Providers and payers require alignment on the best contact information, financial stability, and socioeconomic risk intelligence to drive care quality and cost outcomes for all stakeholders.
When asked about top business priorities for data, improving efficiencies and creating positive member/patient experiences topped the list. These are two key considerations for organizations who want to leverage social determinants of health (SDOH) to implement effective programs that can reduce costs and improve patient and population health outcomes. Sixty-three percent of providers and 53% of payers ranked improving efficiencies in their top three priorities, and 51% of providers and payers ranked positive patient/member experiences in their top three. Patient experience, and more importantly patient loyalty, is front and center with providers in this competitive, somewhat fearful, post-COVID-19 environment.
Additional insights around how providers and payers are approaching data today, as well as strategies for healthcare organizations to consider, can be found in TransUnion Healthcare’s latest report: “Healthcare Data Priorities: Insights from Providers and Payers.”
