Cordata Healthcare Innovations, a healthcare technology company based in Ohio, developed a software tool that has the primary goal of treatment adherence — which improves outcomes and decreases costs.
The tool is most commonly used by specialty providers involved with bariatrics, behavioral health, oncology, orthopedics, pain and spine.
Here’s an example of how it works:
Traditionally, spine-related costs are one of the most expensive service lines for payers. Cordata’s tool helps coordinate care for patients on their spine-related issues and provides patients with more conservative care options, for example.
“If you have lower back pain for three days and the pain is a 5 out of 10, your doctor probably shouldn’t refer you to a spine surgeon,” Gary Winzenread, the CEO of Cordata Healthcare Innovations says. “When you are referred to a provider using Cordata, the tool helps to define a new, efficient pathway for your doctor to recommend seeing a physical therapist or getting pain relief options.”
Cordata’s product is most popular in urban hospitals and academic medical centers, especially amongst those who are pursuing a distinction or an accreditation of a cancer center. The data from the tool can show what the hospital is doing well and helps them stay competitive.
Within the last six months, more hospitals have used this product because they’re interested in value-based services.
This trend doesn’t surprise Winzenread. He sees more and more hospitals interested in value-based care. He says that within two years, the majority of hospitals will be on a value-based payment structure.
“It’s just the right thing to do,” Winzenread says. “Healthcare spending is about 18 to 20 percent of our GDP. We need this sort of value-based view. We need to decrease costs and still be competitive. Looking at patient care paths and treatment efficacy patient can reduce costs and improve patient outcomes.”
Winzenread says the tool doesn’t take away a doctor’s ability to make their own decisions, based on their expertise.
“Doctors went to medical school for a reason and they have the right to decide what happens to a patient,” Winzenread says. “This tool leaves it ‘open’ for doctors to make their own decisions —the tool is seen as ‘advisement.’ Some doctors take the advice; others don’t. But then, what hospitals can do is compare between the doctors and see who had the best outcomes with their patients.”
He said marketers need to show doctors why value-based care is so important.
“We know that the way the insurance market is working now is that doctors are getting paid less than what they used to,” Winzenread says. “But to get a doctor’s income back up, hospitals need to show that outcomes and results for patients are getting better. If you can embrace a value-based system, you’ll excel in it. Because in a value-based system, you get rewarded for being effective.”
Winzenread shares the following tips for marketers who are interested in value-based care:
- You’ve got to measure. “You can’t improve if you’re not measuring,” Winzenread says. “Take on the standardization of care responsibility and begin to tweak your process.”
- No more solo doctors. “The days of every doctor acting like their own individual prescriber is over,” Winzenread says. “But that means you’ve got to help your doctors adapt to the new technology.”
- Invest in your technology. “Even though you’ve got an EMR, you want to make sure you’ve got the right technology from outside of the EMR to make sure the EMR data is working for you.”
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