As providers undertake contracts with increasing levels of downside risk, their need for advanced analytics to manage decision making and monitor results will only grow.
The evolution of analytics from mainly functioning as a finance and administration tool to an expanded role that includes integrating financial and clinical data continues to gain momentum. Its use and increasing sophistication, driven by the steady advance of value-based care and the assumption of greater downside risk by providers, are trends that will likely accelerate in the coming years.
As the industry moves from fee-for-service to value-based care, providers will likely find themselves consumed with analyzing payer- and patient-related data from diverse internal and external sources. The need for analytics tools to make sense of the disparate sources for both financial and clinical data will only grow.
And as providers undertake contracts with increasing levels of downside risk, their need for advanced analytics to manage decision making and monitor results will also grow.