How Well Do You Track Your Provider ‘Inventory’?
“If you don’t know your inventory, how can you manage your business?”
I recently read this quote, shared by a healthcare CEO in a KLAS research report. And it captures a critical issue facing healthcare organizations (HCOs) nationwide: Provider data management.
In healthcare we often think of inventory as it relates to physical products, like bandages or medication. These supplies are closely managed. We know exactly where they’re located, when they’re used and how to get them in the hands of patients as needed.
But when it comes to managing the human side of care, hospitals and health systems struggle daily to connect patients with the best available resources. Why? Because many don’t have a firm grasp on their “inventory” – the providers, facilities and medical equipment available in network to prospective patients.
Provider information is fragmented across the care landscape, with directories containing inaccurate and out-of-date information. In our increasingly complex and interconnected healthcare system, this poor provider data is causing a range of issues – resulting in patient dissatisfaction, referral leakage, delays in care and longer claims processing.
Recent HIMSS Market Insights research underscores this problem. In a survey of 100 healthcare organization (HCO) executives, only 8% characterized their provider data as “excellent.” The study also revealed that perceptions related to both the quality and importance of provider data varied significantly based on the size of the organization – with large, multi-facility organizations facing more challenges.
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It’s no surprise that HCOs struggle to keep provider data up-to-date and accurate – in large part because this information is constantly changing. Provider turnover is estimated at 25% annually, while schedules and office locations are frequently adjusted. Add the constant churn of insurance plan participation, and you begin to see why connecting patients with accurate provider information is so difficult.
The downstream effects of inaccurate provider data are massive. Despite significant investments in patient engagement tools and digital front door strategies, patients still have difficulty accessing care when, where and how they need it. Providers frequently make referrals to out-of-network providers. And underutilization results in low provider satisfaction.
In the HIMSS survey, there was near unanimous agreement (92%) on the importance of having a clean, organized, and up-to-date provider data management solution in improving the patient experience and employee satisfaction. But until recently, there hasn’t been a comprehensive standard for exchanging provider information. The development of the FHIR PDEX Plan Net standard has been a giant leap
By: James Derrickson, InterSystems HealthShare Product Manager
InterSystems Communications Coordinator — Social Media Specialist | Content Developer | Corporate Advocate
1 年This article on provider inventory management is a must-read for healthcare professionals looking to improve their supply chain processes. The COVID-19 pandemic has highlighted the importance of having a robust inventory management system, and the insights shared in this article can help organizations optimize their inventory, reduce waste, and enhance patient care. Thank you, Intersystems, for sharing this valuable information.
Healthcare organizations striving to improve patient outcomes and reduce costs, effectively managing provider inventory has become more critical than ever. This insightful article from InterSystems highlights the importance of accurate inventory tracking and offers practical tips for optimizing provider inventory management. By leveraging technology solutions like InterSystems HealthShare, healthcare organizations can gain real-time visibility into their inventory levels, reduce waste and errors, and improve overall operational efficiency. If you're looking to enhance your provider inventory management processes, this article is a must-read!
As healthcare providers continue to face unprecedented challenges, the importance of managing inventory effectively cannot be understated. This insightful article by Intersystems highlights the importance of tracking provider inventory and the potential consequences of inadequate inventory management. By implementing automated systems to track inventory, healthcare providers can optimize their supply chain, minimize waste, and improve patient care. As a healthcare professional, I believe this article is a must-read for anyone seeking to enhance their organization's inventory management practices.