Healthcare organizations generate massive amounts of data every day. Managing the constant influx of information is a challenge on its own, and the further you dig, the more complications arise. Not only do organizations have a lot of data to process, but also a wide variety of data types to warehouse, analyze and integrate.
Everything from patient health records to payer reimbursements falls within the purview of data exchange. When errors and redundancies occur within any of these datasets, patients suffer, organizations lose money and everyone gets frustrated.
The importance of fluid data exchange
Imagine a healthcare organization with separate silos for each type of clinical data. One silo houses patient data, another billing information and another immunization records. To better serve patients and manage relationships with payers, the organization needs to transmit relevant data between departments, among other organizations and with payors. There’s just one problem – these silos usually aren’t connected and, if they were, their data would be incompatible.
This is what makes data interoperability so important. When each disparate system gets connected and information can move freely, everyone becomes empowered to make better decisions. Patients gain improved access to their secure medical records, physicians can share data along the continuum of care and the billing department can manage denials more easily.
When the exchange of data becomes easier, everyone wins. By adopting customized technology solutions, organizations can gain control over their data and harness its power to build transparency and achieve financial clarity.
Check out our infographic to lean more about why fluid data exchange is important to the healthcare industry: