When searching for the best healthcare facility to receive care, most likely patients
look at ratings and then the list of health services offered. Centers that have high ratings are
usually centers that are proactive in giving quality care to its patients, have great
communication with their patients and who offer a well-rounded number of services. These
facilities are more than likely supported by partaking in Payer Quality Incentives.
Payer Quality Incentives are a highly effective tool used by insurance companies to
drive providers and healthcare centers to provide proactive care to its patients, gain
financial benefit and improve overall operations as a healthcare facility. For example, ABC
Insurance informs a local FQHC (Federally Qualified Health Center) that they will receive
financial compensation for servicing 50% of its 2,000 ABC Insurance patients with colon
cancer screenings. This not only serves as a great financial benefit, but it also leads patients
to feel proactively cared for and is an excellent way for patients to decrease medical costs
by taking preventative measures to care for their health. Patients getting an early screening
for colon cancer can decrease the likelihood of having to pay for future cancer treatments.
These FQHC’s are responsible for identifying the patients under ABC insurance,
tracking their care, and offering this incentivized service to them. According to researchers,
Asaad Abduljawad and Assaf F. Al-Assaf, at the University of Oklahoma, College of Public
Health:
“One of the performance incentives models being used in the USA is Pay-for-
Performance (P4P). This is a model that was initiated to improve measures of quality
and efficiency and eliminate excessive cost. It provides a financial incentive that
allows payers and providers to link economic incentives and operational quality
outcomes. The underlying assumption is that P4P will improve, motivate, and
enhance providers to pursue aggressively and ultimately achieve the quality
performance targets thus decreasing the number of medical errors with less
malpractice events.”
So how do FQHC’s and other health care facilities benefit more from these payer
incentives? Organized tracking systems! Healthcare centers see hundreds of patients with
varying insurances. To partake in these Payer Quality Incentives offered by insurance
companies, they need to be able to efficiently identify what patients are covered under the
specific insurance company offering an incentive. The best method for organization is
securing the proper data analysis tools to do the work for you. With a highly automated
tracking dashboard, you can input patient data and then sort by the different criteria you
need. The dashboard is designed to help you easily sort by criteria such as: insurance
company, name, or dates of service, and more. It makes accessing patient and company
information significantly easier and organizes data in a much smarter way. Experts at Jasfel
Analytics, are an excellent source for not only creating and customizing the dashboard to
the unique needs of your establishment, but they also come in and help implement proper
use of these dashboards.
We believe that health care centers that have organized tracking systems and meet
the requirements of insurance company incentives are centers that thrive. They have high
patient retention rates and are financially supported, which gives them greater access to
resources. Jasfel Analytics is known for creating efficient and innovative dashboards that
help health care centers track patient data, improve health care performance, and establish
an effective system for better record management. To improve the operations of your
establishment, data collection and organization must be a high priority. Aside from better
tracking methods, they automatically make your teams job easier which leads to more
efficient work. These data collection and organizations tools are also great for many other
areas and can improve more than one aspect of your success!