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Data is the catalyst for healthcare’s next revolution. Today’s healthcare providers and administrators have an incredible opportunity to participate in what may be the biggest societal shift of a lifetime: the move from a fee-for-service (FFS) payer model to value-based care (VBC). Effectively using data will facilitate that shift.
On December 21, 2018, CMS issued a final rule for the Medicare Shared Savings Program (MSSP), strengthening the financial incentives for ACOs to drive improved outcomes. The health systems that embrace data to achieve financial success will grow while others will struggle to compete. This article explores the high points in history that have led to the current challenges, why financial imperatives drive cultural change in our economic model, ways MSSP can help healthcare organizations achieve financial success, and ideas for how to utilize data to develop better healthcare delivery systems.