Published on July 22, 2019
By Natalie Narloch, Carrot Health Intern
With access to data growing exponentially, healthcare spending should reflect wiser informed decisions, yet more gaps are seen in the healthcare system of today. Since change happens daily, new technology can be outdated by the time it’s implemented into the market, and healthcare data is lagging behind the retail industry.
The answers needed to propel healthcare forward are found in the invaluable insights when data is applied and measured accurately. Data driven results impact payers and providers by helping them do the following:
- Maximize opportunities by optimizing CMS measures, member engagement through predictive customer preferences, and intelligent market growth strategies.
- View customers in holistic and personalized profiles by leveraging primary survey data and big data analytics.
- Achieve deeper understanding of consumers, including their motives, priorities, and accurate predictions that can’t be found elsewhere.
- Allocate resources more efficiently in a competitive market by translating data into actionable deliverables that assess ROI and acquisition costs.
- Share data across an organization in a common language that informs go-to-market strategies for direct-to-consumer business lines, optimizes product offerings and direct mail campaigns, and finetunes personalized and segmented messaging.
- Increase star ratings with long term results.
- Influence member behavior and health outcomes by leveraging data to create distinct and highly detailed segmentation profiles that combine clinical and claims data to understand how the behaviors and choices of their members influence health plan decisions, overall health and the outcomes of the care interventions they receive.
- Implement change faster with real time dashboard results.
A 360-degree view of each customer (like the one provided by MarketView) – which allows payers to account for personal differences, predict choices, and determine health risk factors while also engaging those members more productively in their own health – is worth the investment. When health plans combine big data analytics and “voice of the consumer” survey data, they dramatically enhance their ability to discern and predict attitudes, behaviors, risk factors, preferences, and costs. This kind of robust information helps a health plan communicate with and engage each member appropriately.