Healthcare organizations (HCOs) have been, and continue to be, invested heavily in IT to improve outcomes and lower costs. While much of this investment continues to support the implementation and optimization of mandated electronic medical record (EMR) systems, the post-EMR implementation world is on the horizon, and all of those EMR systems will be generating tremendous amounts of data. According to PwC’s 2016 Annual Global CEO Survey, 95% of healthcare CEOs are already looking beyond EMR and say they are exploring better ways to harness and use big data.

Telecom, media and entertainment industries are crossing paths with increasing regularity in hopes of seeking a fruitful partnership. Navigating the increasingly connected, ever-changing wireless ecosystem is not for the faint of heart. Inking the deal is just the first step. Integrating technologies, teams and operating cultures are what can really make or break the customer experience and thus profits.

I recently attended the Healthcare Financial Management Association's National Institute (HFMA ANI) conference in Las Vegas. With news headlines often screaming of healthcare cost increases and price hikes, the hesitation to discuss money and health outcomes in the same conversation is understandable. The result is gymnastic contortions of language that is unproductive at best.

Capto CEO, Tracy Currie, had the opportunity to sit down with Carol Flagg of RCM Answers during the recent Healthcare Financial Management Association (HFMA) ANI conference. They discussed the business and customer experience opportunities for healthcare in the near future.

Organizations are missing a valuable opportunity if mid-year planning only considers a budget or project review for the rest of the year. Asking “How are we doing against what we said we wanted to do?”, is necessary, but not enough for a well-run, forward-thinking organization. Now is the time for company leaders to review their 2016 strategy and reposition for 2017 and 2018. Think of this as a shift from a dashboard approach to a focus on the business horizon.

The concept of defining specific episodes of care for the purposes of measuring quality and efficiency of care has been around for a long time. EOCs define the scope of care and qualification for specific treatable conditions, which is challenging considering the potential complexities of each procedure and condition. EOCs are essential to enabling effective value-based payment models and effective population health programs, but the industry has struggled for years to make standard EOCs part of healthcare.

On May 3rd, nearly 600 high school students from across the Adams County School District in Colorado convened to explore and prepare for life after high school. Capto supported the event as a Gold Sponsor in order to support the growing event's reach to expose more and more students to the steps needed to transition into the working world.

Studies show that when kids see a future for themselves, they are 30% more likely to attend college. That's a data point we can get behind.

CIOs and CFOs need to stop worrying about aligning IT with the business and start running IT as a business to resolve the majority of issues CIOs are having getting a seat at the strategy table and collaborating with their business unit peers.

CIOs and the CFOs who work closely with them can check out the specific steps I outline in my recent article, "IT Should Drive Decision Making, Not Just Participate", published in CFO Magazine.

Data is exceptionally valuable for companies making decisions concerning reducing costs and increasing revenues. Though it’s seemingly simple to run a data report, getting to the right actionable insight can offer both opportunities and missteps.

We found it interesting that Comcast was singled out by six senators in Washington for billing customers the rental fee for their modem after the modem had been returned. Comcast acknowledged issues in their customer service and called out a focus on their billing systems to avoid such mistakes in the future.

I’ve yet to see the statistic that a new app is born every five minutes, but I’m sure it exists somewhere. At last count, there were 265,000 health-related apps on the iTunes and Android stores. Certainly the FitBit and its heart monitor predecessors paved the way for new health apps ranging from blood sugar monitors for diabetics, to weight loss, to support communities for any number of health afflictions.

Employer-provided healthcare started in the 1940s as a workaround for the WWII wage and price controls. Companies couldn’t entice GIs with more salary, but they could offer health insurance (and also get some nice tax breaks to boot). That was great when employees typically worked their entire career at one company. Today, employees switch jobs like they change apps on their phone. Which means that they are switching their health insurance, too. And this makes no sense because your health is best managed with consistent individual-focused coverage.

2016 Big Data Analytics Leadership Equation

It’s the old 80/20 rule, or, in health care’s case, the 85/15 rule. Roughly 15 percent of patients drive 85 percent or more of costs for health care and insurance providers. Managing these patients effectively can significantly improve bottom-line results — and there is plenty of room for improvement.

Customer expectations are growing faster than your childhood chia pet. The need to keep up with customers’ existing and future demands is a challenge facing every organization. To do this effectively, an IT or business intelligence (BI) group must not only have a clear value proposition but also use it as the driver of everything the group does.

When an IT department analyzes and develops a value proposition, it reminds end users why the tasks they are undertaking matter. Most IT departments are so busy with day-to-day deliverables that they do not focus on what customers really want or need. A shift must occur. To become an indispensable company asset, IT must run its practice area like a business.

Analytics have become “big” and “intelligent” over the years, but companies still struggle to squeeze the full value of their data analytics to meaningfully direct their go-forward strategies. While we see this trend continuing into 2016, there are some bright spots as technological advances enable companies to wade their way through the murky data lakes toward clearer waters.

Big data projects can deliver competitive advantage to match the buzz. This is especially true when the initial strategy is focused on using the right combination of internal and external data sources and making sure that the data leads to desired market outcomes in a timely fashion.

SITUATION

A chasm often exists between being able to see an opportunity and being able to seize it. Capto worked with a private investment and real estate company in the Middle East that wanted to leverage infrastructure outsourcing market growth in the region by establishing a new company. After initially analyzing the scale of the investment and the operational complexities involved, the firm determined that it needed outside operating expertise to develop the appropriate investment strategy. Enter Capto to help formulate a strategy and assist in execution.

SITUATION

A private equity firm sought growth by expanding into high compliance cloud and data services targeting the federal government domain. Capto was brought on board to evaluate a potential target acquisition. Focus was placed on a market assessment that included a demand and competitive analysis, a technical review of the relevant compliance standards, and an evaluation of how the market is addressing the standards.