Save Money and Lives with Population Health Management Platform (PHM)

Twenty years back, there was a very little dependency on advanced technology to manage the healthcare sector. However, during the previous decade, healthcare providers, and policymakers started to depend on the Population Health Management platform (PHM) for value-based care. The PHM platform focuses on devising interventions, incentives, and other measures to improve health outcomes.

Many healthcare leaders think that saving money and lives can be achieved by fostering multi-sector collaboration, community integration, and non-clinical initiatives. The common perception revolves around a successful PHM, that can lead to a healthier population, reduced healthcare utilization, and huge financial savings. For this purpose, they have been concentrating on social determinants of health (SDoH), boosting wellness, and managing chronic diseases.

Population health management assists in sustaining and enhancing people's physiological and psychosocial health. It resolves healthcare disparities and provides cost-effective personalized health solutions.

The Reimbursement Connection

The Medicare and Medicaid Services Centers (CMS) have started four initial value-based programs to improve the quality of medical services delivered to enrollees. These include Hospital Value-Based Purchasing (HVBP), Physician Value-Based Modifier (PVBM), the Hospital-Acquired Conditions (HAC) Program, and the Hospital Readmission Reduction (HRR) Program.

CMS has also developed other value-based payment mechanisms for different programs such as the End-Stage Renal Disease (ESRD) Quality Initiative Program, the Skilled Nursing Facility Value-Based Program (SNFVBP), and the Home Health Value-Based Program (HHVBP). The objective of all these payment models is to correlate the improved medical service quality and provider reimbursements for pop health.

Population Health Management for Payers

The Center for Medicare and Medicaid Innovation has endorsed models of multi-payer delivery and payment reforms with a focus on population health and SDoH. Several payers have promoted virtual access to care providers and telemedicine because they consider the virtual healthcare system as the key element of population health management software.

Payers are now concentrating on better management of pop health and data analysis. The payers are developing strategies to improve care coordination, disease management, and patient outreach to reduce unnecessary healthcare costs. The payers are adopting new hiring practices by signing the members of the vulnerable communities as the workforce. These workers will benefit from employer-sponsored health plan coverage.

Robust Population Health Management Software

A robust Population Health Management Software can assist in predicting the requirements of healthcare practitioners. It selects cost-effective interventions to reduce unnecessary and expensive treatments, thus helping in cost savings. It helps to manage chronic diseases and in obtaining preventative care. The PHM analytics convert healthcare data into real-time insights that show an accurate overview of health conditions.