In order to monitor performance in addition to managing patient population and financial risk, it is essential to have a strong analytics platform that shares data from within the organization and from the entire network of providers who support its beneficiaries. Without data analytics, an ACO is not able to accurately forecast costs, and outcomes will be compromised. Just having data is not enough. The ACO needs to leverage Electronic Health Records and Population Health tools that are integrated at the patient level and within provider workflows that make the data actionable at the point of care.
Finally, ACOs must improve transitions of care. Being responsible for the total costs of care for their population, ACOs want to ensure their members get the right care, at the right time, at the right location. By establishing a network of high-quality, low-cost, post-acute providers, ACOs can see lower length of stays and lower readmission rates.
As we continue down the path of alternative payment models, Accountable Care Organizations can be successful at generating cost savings (aka, lowering costs) and improving the quality of care for their members. Successful ACOs are creating a culture of collaboration, taking a holistic view of the population, leveraging data analytics, and ensuring access to the right care at the right time for the beneficiaries. Achieving these while arming providers with knowledge will lead to the outcomes we all desire – higher quality of care at lower costs.
Vee Technologies, a leading global, technology-enabled professional services organization, is helping many accountable care organizations create a collaborative culture, identify gaps in care, and educate their providers to support these outcomes. These initiatives are yielding impressive results with our clients who are now closer to achieving the Triple Aim.
Donald M. Berwick, MD, MPP, President Emeritus and Senior Fellow, Institute for Healthcare Improvement. (2020). Triple Aim – The Best Care for the Whole Population at the Lowest Cost.