How to turn new regulations into opportunities
The Centers for Medicare & Medicaid Services (CMS) recently issued the Interoperability and Patient Access final rule to increase consumers’ access to their healthcare data. But the benefits of meeting interoperability standards go beyond compliance; IT infrastructure transformation can help organizations unlock siloed data and improve outcomes for members.
The data transparency brought on by the Interoperability rule is creating a new collaborative dynamic between payers and providers, improving patient experiences and health outcomes. Payers are using data analytics, machine learning, and artificial intelligence (AI) to gain real-time member health insights and share them with network providers to improve health plan performance.
Opportunities for payers
Under the new CMS regulations, states will be required to start sharing Medicare and Medicaid enrollment data with beneficiaries daily. Increased data accessibility will not only ensure better care coordination, but it will also allow patients to monitor the services they receive and the costs they incur.
The new mandates will help healthcare information flow more freely between payers, providers, and members, and increased data fluidity helps payers in multiple ways:
How can payers achieve true data interoperability?
Payers can leverage the momentum from the move towards interoperability to drive additional improvement in the data exchange process. They need easy access to integrated, standardized, and high-quality clinical data. Innovaccer can help payer organizations achieve true interoperability and increase access to healthcare data with its one-of-a-kind enterprise data platform. The platform can help payers accomplish:
Health plan members ultimately want high-quality care at low costs. With the new CMS regulations, patients will now have more control over their personal data and overall care journeys. As a result, value-based quality and cost objectives will be fulfilled.
The Interoperability and Patient Access final rule is more than another compliance checkbox; it’s an opportunity to overcome the preventable challenges of siloed data and healthcare redundancies. Innovaccer’s Enterprise Data Platform meets the new CMS standards, and in doing so, it increases data liquidity so payers can give patients and providers secure access to health information and more control over their healthcare.