How data-driven healthcare delivers better patient outcomes and efficiencies for employers.
Running a business is all about balance. It takes the right mix of talent, time, and resources to keep an organization running smoothly. Plus, you need the perfect blend of healthcare benefits to ensure your employees — and your bottom line — are well taken care of.
Benefits and payroll administration can prove a headache for employers, however. The last thing your business needs is to waste time and capital figuring out how to provide the best plans for all your employees. That’s why data-driven healthcare platforms are here to help, enabling you to focus on what matters: running your business while ensuring your employees are in good hands. Here’s how.
Defining data-driven healthcare systems
When we refer to data-driven healthcare systems, we’re referring to digital platforms that leverage data processing tools.
The healthcare industry generates troves of data daily. Think about the massive amounts of data coming from patient records, medical imaging, and wearable devices, just to name a few. Data-driven healthcare systems harness that information and enable healthcare providers and organizations to derive meaningful insights and make better-informed decisions, ultimately enhancing patient outcomes and operational efficiencies.
Let’s take a look at how employers can leverage data-driven healthcare tools to their benefit.
Improving operational efficiencies through data-driven healthcare
Data-driven healthcare systems improve efficiencies in several key areas.
Workflow streamlining and automation
Data-driven healthcare systems offer significant improvements in workflow streamlining and automation, resulting in reduced administrative burden.
Take, for example, the reduction of manual paperwork. Digitized, data-forward systems eliminate the need for excessive filing and documentation by digitizing and centralizing patient information. Instead of relying on paper-based records, users can access and update patient data electronically, reducing the risk of errors and ensuring real-time availability of information.
Moreover, automation plays a vital role in simplifying processes such as enrollment and tracking rosters. For example, automated online and paper enrollment systems enable eligible members to easily register for healthcare services, eliminating the need for manual paperwork and reducing administrative overhead. These systems can validate eligibility criteria in real time, allowing for faster and more accurate enrollment processes.
Additionally, data-driven healthcare systems facilitate more efficient roster management. They can automatically update and track rosters based on eligibility criteria, ensuring that healthcare providers and employers have an accurate and up-to-date list of patients. This process not only simplifies administrative tasks but also improves coordination and communication between healthcare teams and employers, leading to better care coordination and streamlined workflow.
Dashboards and reporting
Data-driven healthcare systems provide employers with powerful dashboards and reporting tools tailored to their specific needs. These tools offer quick access to up-to-date membership, participation, and eligibility reports, saving valuable time and ensuring accuracy in managing employee healthcare benefits.
Dashboards serve as centralized hubs of information, presenting key metrics and data visualizations in a user-friendly format. Employers can easily track and monitor data related to employee enrollment, participation in wellness programs, and eligibility for specific healthcare benefits. This real-time access to data eliminates the need for manual data gathering and empowers employers to make informed decisions regarding their employee healthcare offerings. It also helps them gain valuable insights into the effectiveness and ROI of their healthcare programs.
One key aspect of financial sustainability is optimizing resource utilization. Data-driven healthcare systems provide employers with insights and analytics that help identify areas of inefficiency and waste in healthcare spending. By analyzing data on claims, utilization patterns, and cost drivers, employers can make informed decisions to optimize resource allocation and eliminate unnecessary expenses.
Moreover, these tools automate financial transactions and reduce the administrative burden associated with manual invoice processing, ensuring accuracy and efficiency in managing healthcare costs. Platforms like MagnaCare CREATE® Technology, for example, simplify the invoicing process and provide a user-friendly interface to create, send, and track invoices, streamlining the billing and payment cycle.
Improving patient outcomes
A key advantage of data-driven healthcare platforms is the ability to streamline eligibility verification processes. Your employees can easily navigate online portals or mobile applications to determine their eligibility for specific healthcare benefits. By automating eligibility checks based on predefined criteria, such as employment status or work hours, these systems provide immediate clarity and reduce the administrative burden for both patients and employers.
Employees also have access to easy-to-use tools that allow them to search for healthcare providers, check the status of their claims, and communicate with customer service representatives. They can securely access their healthcare information, view claims status, and communicate directly with their employers or designated customer service channels. This streamlined communication process ensures prompt issue resolution, enhances transparency, and improves the overall user experience.
At MagnaCare, data is our bread and butter
Data is a powerful resource that’s transforming the way healthcare is delivered and managed. But it’s not just the future of healthcare — it’s also the present. By harnessing the power of data, employers can optimize their operations, streamline administrative tasks, and allocate resources more efficiently. Platforms like Magnacare CREATE® Technology can identify areas of inefficiency and enhance productivity, improving the bottom line for your business.
MagnaCare stands at the intersection of innovation and accessibility, providing a comprehensive solution for employers seeking to optimize their healthcare administration. Our next-gen CREATE® Technology platform serves as a centralized hub for employers to manage all aspects of their health plan, from online open enrollment to member activation, medical benefits to ancillary services. With 24/7 access to their health plan information, members can easily explore and understand their benefits, enabling them to make informed decisions and take charge of their personal wellness.