Sponsored Content | Case Study | Cardiovascular Business | December 13, 2016| By Praveen Lobo, Vice President Strategic Products – LUMEDX Corporation

Improving the Business Performance of Heart and Vascular Centers

An effective data strategy facilitates improved business outcomes

cardiovascular data intelligence

New operational realities demand new ways of measuring the qualitative value of clinical procedures.

The primary goal of any healthcare provider is to improve the lives of patients through effective treatment. However, because they are also businesses, hospitals have concerns that entail much more than this. To be viable in the long term, hospitals must manage their margins to fund their mission.

There are three main pillars of business concern for any hospital:

  • Clinical — health outcomes are measured with the goal of healthier patients leaving the facility.
  • Financial — the dollars must add up to keep the enterprise solvent.
  • Operational — staffing and facilities are measured against cost and need.

Ultimate success for a hospital demands focused attention on all three areas. It's incumbent upon clinicians and service line managers to work together to seek out efficiencies in each of them. 

New Operational Realities

Payers' shift away from a fee-for-service model toward a value-based payment model demands that clinicians and administrators expand the above-mentioned pillars to include cost, patient outcomes, and patient satisfaction.

These changes aren’t easy. Providers have long been paid based on quantitative measures: the number of procedures performed. New operational realities demand new ways of measuring the qualitative value of those procedures. Reimbursement is linked to these metrics, and hospitals must find ways to leverage their investments in data technology in order to maximize their financial opportunities.

Granular Data Brings Actionable Insights

Data is critical to the shift to VBP. For example, for CABG procedures, if we know that extubation under 24 hours after surgery improves patient outcomes, it makes sense to monitor that metric internally on an ongoing basis. When outliers crop up, data points gathered from across the treatment spectrum can allow us to understand why. Perhaps a different treatment was needed at the outset, or some other patient health factor influenced that measure.

Over time, granular data can allow us to understand which type of treatment is best for patient outcomes in that circumstance.

It is discrete, granular data that can help providers fine-tune their processes in order to improve patient outcomes — and of course patient satisfaction. This same kind of close analysis can be applied to reducing costs. But for all three new, expanded pillars, efficient data collection, management, and analysis are needed. 

LUMEDX offers cardiovascular data intelligence: technologies that collect more than 30,000 discrete data points—from point-of-care devices to physician reporting. This rich data set enables meaningful insights in the areas of treatment options, clinical evaluation and training, and service line optimization.

Watch the VIDEO “Lumedx Cardiovascular Performance Program: A New Approach to Managing Quality and Cost.”

For more information, visit www.lumedx.com

Related Content

Siemens Healthineers Acquires ECG Management Consultants
News | Cardiovascular Business | November 11, 2019
November 11, 2019 — ECG Management Consultants, a leading U.S.
Videos | Cardiovascular Business | September 30, 2019
A discussion with Ruth Fisher, MBA, vice president of the...
Scranton Gillette Communications Names Diagnostic and Interventional Cardiology Group Publisher and Integrated Media Consultant

Diane Vojcanin (left) was named vice president, group publisher, healthcare group, overseeing Imaging Technology News (ITN) and Diagnostic and Interventional Cardiology (DAIC). Andreja Slapsys (right) was named a healthcare group integrated media consultant.

News | Cardiovascular Business | September 06, 2019
Business-to-business communications company Scranton Gillette Communications has named Diane Vojcanin as vice president...
FDA Opens Proposal Solicitation Period for 2020 Experiential Learning Program
News | Cardiovascular Business | July 17, 2019
The U.S. Food and Drug Administration (FDA) Center for Devices and Radiological Health (CDRH) announced the 2020...
The Current Direction of Healthcare Reform Explained by CMS Administrator Seema Verma
News | Cardiovascular Business | June 11, 2019
Centers for Medicare and Medicaid Services (CMS) Administrator Seema Verma addressed the American Medical Association (...
DAIC Earns Azbee National Bronze Award for Social Media Presence
News | Cardiovascular Business | May 10, 2019
May 10, 2019 — Diagnostic and Interventional Cardiology (DAIC) earned a Bronze Award at the 2019 Na
Cath lab staff working as a team to prepare for a procedure at Presbyterian Medical Center Cardiac Cath Lab, Charlotte N.C. Pictured are Barry Horsey RCIS, Emily Luna RN, RCIS, Adam Martin RCIS, Caleadia Jessup RN.

Cath lab staff working as a team to prepare for a procedure at Presbyterian Medical Center Cardiac Cath Lab, Charlotte N.C. Pictured are Barry Horsey RCIS, Emily Luna, RN, RCIS, Adam Martin, RCIS, Caleadia Jessup, RN.

Feature | Cardiovascular Business | May 03, 2019 | Ruben Filimonczuk, RCES, AS-PMD
One of the most promising areas for innovation in healthcare is to be found in the workforce – both in hiring and ret
Fail-safe Program for New Medical Technology Focuses on Patient Safety
News | Cardiovascular Business | April 29, 2019
New medical technology offers the promise of improving patient care, as well as the potential for harm if caregivers...
Medicare Trustees Report Hospital Insurance Trust Fund Will Deplete in Seven Years
News | Cardiovascular Business | April 22, 2019
The Medicare Hospital Insurance (HI) Trust Fund, which funds Medicare Part A, will only be able to pay full benefits...
Foreign-trained doctors now make up one-third of cardiologists in the United States and help make up for the U.S. overall shortage of physicians. Pictured here is co-author of this article Mandeep R. Mehra, MBBS, MSc, FRCP, who is an example of the contribution international physicians have made in the U.S. He is medical director of the Brigham and Women’s Hospital Heart and Vascular Center.

Foreign-trained doctors now make up one-third of cardiologists in the United States and help make up for the overall shortage of physicians. Pictured here is co-author of this article Mandeep R. Mehra, MBBS, MSc, FRCP, who is an example of the contribution international physicians have made in the U.S. He is medical director of the Brigham and Women’s Hospital Heart and Vascular Center, The William Harvey Distinguished Chair in Advanced Cardiovascular Medicine, and a professor of medicine at Harvard Medical School. He is past-president of both the Heart Failure Society of America and the International Society of Heart and Lung Transplantation. 

Feature | Cardiovascular Business | April 15, 2019 | William W. Pinsky, M.D., FAAP, FACC, and Mandeep R. Mehra, MBBS, MSc , FRCP
As we strive to process today’s successive news cycles involving negative reports about immigration, it is easy for m
Overlay Init