Data-Driven Health Economics Research Can Improve Clinical, Economic Outcomes – OncLive

by | May 6, 2022 | Financial

With improvements in electronic medical records (EMRs), telemedicine, and other digital health solutions, clinicians have access to more data than ever to help inform decisions. New metrics such as patient volume, location, and details of treatment trajectory can help practices improve their care from a clinical standpoint, according to Lalan Wilfong, MD. But how best to leverage the economic influence of these data on clinical practice and patient outcomes remains an area of exploration.“Practices [must] figure out how to better understand the economics of what they do, especially as the field moves to more total cost of care models and more valuebased care models, where we are more accountable for the cost we give [to the patient] and how we spend the [associated] revenue,” Wilfong said in an interview with OncologyLive®.Wilfong, a medical oncologist and hematologist with Texas Oncology and vice president for payer relations and practice transformation at McKesson Specialty Health, both in Dallas, Texas, said using data to retain patients from time of diagnosis through completion of therapy is a key factor in a practice’s financial stability. Data-driven health economics and outcomes research offers clinicians effective methods for improving quality of life and outcomes for patients and optimizing economic benefits for the practice.“Quality metr …

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