In a recent survey of payer executives, Becker’s found that data remains a top priority for payer organizations as they look ahead. It’s no surprise that data – and the ability to collect, ingest, manage, and use data – is on the minds of almost every payer executive. A report from the World Economic Forum found that, despite the massive volumes of healthcare data generated annually, most of it still goes largely unused.
One key reason data is going to waste: There is an inability to stitch data together from multiple point solutions into a single, meaningful set of information that organizations can use across any application within their existing technology ecosystem. As point solutions in healthcare proliferate, this issue of managing member data efficiently only gets worse for organizations trying to piece together a multi-vendor solution.
As value-based care (VBC) becomes more mainstream and payers look to integrate more data sources into their decision-making – such as social determinants of health, wearables, EHR data, and others – the need for a streamlined vendor solution becomes evident. Payers pursuing VBC initiatives can be more efficient at managing member needs with a single source of truth that brings together disparate data sources. Leveraging an end-to-end software platform that includes analytics, payment, and care functionality will become a competitive advantage.
A future with a single vendor solution might sound like a great idea, but today’s reality for many large payer organizations is still a system of patchwork point solutions. Recognizing this challenge, Cedar Gate purposely built a composable software platform that allows entry points to solve an immediate need and then build up to a full suite of solutions over time.
Cedar Gate’s industry-leading data management solution pulls together data from dozens of sources, then homogenizes and enriches it. The end result is a dataset that can produce descriptive, predictive, and prescriptive insights from analytics, process complex payments in alternative payment models, or provide actionable insights through user-friendly care applications.
Every piece of our software platform integrates with the core administration systems, EHRs, analytics, payment, and care solutions you already have. Many of our existing clients quickly realize the value of a single vendor and replace other point solutions as they come up for renewal with additional modules from our fully integrated platform.
In an uncertain data environment, a single vendor relationship and the only end-to-end technology solution available for VBC organizations provide significant competitive advantages. Payers can scale up or down with ease, quickly moving on to new lines of business or opportunities as they arise, all with the knowledge that the data is securely stored in a data lake and available on demand from any application.
Start on your path to consolidate point solutions by requesting a demo of our end-to-end platform today.
