Healthcare Providers and Payers Rank Top Data Challenges Amid Pandemic
March 11 2021 - 8:00AM
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. A new survey
from TransUnion Healthcare (NYSE: TRU) reveals only 37% of payers
and 58% of healthcare providers are very confident that their
member/patient demographic information is correct.
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.
Top data priorities for healthcare leaders include
efficiencies and patient experiences
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.
“Accurate and reliable data can make all the difference for
providers, payers and patients, and the intricacies of data are
both an opportunity and a challenge for the industry as highlighted
by our latest survey findings,” said James Bohnsack, Senior Vice
President and Chief Strategy Officer of TransUnion Healthcare.
“Healthcare providers and payers should reflect upon these survey
insights and how these challenges may present themselves in their
environments. In doing so, they may uncover opportunities for their
own data strategies in order to build a foundation of trust with
those they serve.”
Data Challenges and Priorities for
Healthcare Provider and Payer Leaders
Topic |
% of Healthcare Provider Leaders |
% of Healthcare Payer Leaders |
Very confident that their member/patient demographic information is
correct |
58 |
% |
37 |
% |
Fairly confident that their member/patient demographic information
is correct |
38 |
% |
60 |
% |
Ranked improving efficiencies as a top three business priority for
data |
63 |
% |
53 |
% |
Ranked creating positive patient/member experiences as a top three
business priority for data |
51 |
% |
51 |
% |
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.”
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company that
makes trust possible in the modern economy. We do this by providing
a comprehensive picture of each person so they can be reliably and
safely represented in the marketplace. As a result, businesses and
consumers can transact with confidence and achieve great things. We
call this Information for Good.®
TransUnion Healthcare, a wholly owned subsidiary of TransUnion,
makes mutual trust possible between patients, providers, and payers
by helping them navigate payment complexities. Our solutions
leverage comprehensive data, accurate insights and industry
expertise to engage patients and health plan members early, ensure
earned revenue gets paid, and optimize payment strategies.
TransUnion Healthcare helps over 1,850 hospitals and 570,000
physicians collectively recover more than $1.2 billion annually in
revenue.
A leading presence in more than 30 countries across five
continents, TransUnion provides solutions that help create economic
opportunity, great experiences and personal empowerment for
hundreds of millions of people.
http://www.transunionhealthcare.com
Contact |
Dave
Blumberg |
|
TransUnion |
|
|
E-mail |
david.blumberg@transunion.com |
|
|
Telephone |
312-972-6646 |
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