This past month, the OPEN MINDS team has been preoccupied with a deceivingly simple question—why measure performance? The straightforward answer is that a strategy for sustainability and success in the turbulent health and human services market depends on having the right data and managing strategy implementation based on market metrics. For sustainability in years ahead,…
Creating an organization that embeds data into management decisions—whether from the front-line direct service support staff member, or the Chief Executive Officer (CEO)—requires leadership, a commitment to a data culture, and effective technology designed to be accessible and efficient. And at all levels of the organization – data should support “informed” decisionmaking.
Leadership
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One important piece of performance management is deciding what measures your team should pay attention to. This may seem trivial, but to quote W. Edwards Deming, “What is measured is what gets done.” And thinking of one of my favorite movies, Indiana Jones and the Last Crusade, it is important to “choose wisely.”
We’ve…
Last month my colleagues Athena Mandros and Ken Carr ask a “simple” question: How does an organization go about creating innovative, value-based partnerships with health plans (see Using Your Performance Metrics To Build A Value Proposition For Health Plans)? Their article deserves a thorough read but can be summed up as: addressing payer “pain” points…
Knowing how to develop bundled payments and case rates is an executive team skill set that will become more important as value-based reimbursement models mature. While the majority of VBR contracts remain in fee-for-service models with a bonus or penalty, the use of case rate reimbursement is on the rise, and this brings a new…
One of the most common competencies needed to work effectively with a value-based reimbursement (VBR) contract is sufficient data management skills to address the financial risk. This starts with adopting an integrated tech platform and making investments in technology infrastructure and data analytics so that the organization can integrate data from multiple sources, meaningfully analyze…
