Impact Insights

Week in Review 10/3/14

40% of in-network payments from commercial health plans are now “value-oriented,” according to new data from the Catalyst for Payment Reform. “Value-oriented” payments are defined as payments to providers that are “tied to performance or designed to cut out waste.” However, only a slight majority of all value-oriented payments (53%) actually put providers at any kind of financial risk for their performance. 

Impact Advisors’ Thoughts: The data is a good reminder that despite all of the buzz about Accountable Care, the reality is many current programs remain purely incentive-based. Payments continue to evolve fairly quickly though, for example, only 11% of payments in 2013 were value-oriented. Therefore, change is coming on that front, and providers will likely be required to bear more financial risk sooner rather than later.

 

A person’s medical record is worth a staggering 10+ times more than his or her credit card information (!) on the black market, according to a story in ReutersCiting data collected by PhishLabs, Reuters reports that stolen health records can sell for as much as $10 each on underground websites, which is 10 or 20 times the price of a stolen credit card number. Overall, the story notes that 40% of healthcare organizations reported being the victim of a cyber-attack in 2013, compared with only 20% in 2009.

Impact Advisors’ Thoughts: The value of stolen health records on the black market – which can be used to submit fraudulent claims – is the primary reason hackers are increasingly targeting healthcare organizations. For a closer look at what providers can do to avoid being the victim of a breach, check out the recent Impact Advisors’ white paper: Overcoming a False Sense of Security in Healthcare!

 

NurseJournal.org revealed its list of the Top 100 Social Media Friendly Hospitals of 2014. More than 800 hospitals were evaluated and given a score of 1-100 based on Facebook and Twitter stats (i.e. Likes, Tweets, Followers, etc.). The top 5 hospitals (and scores) this year were:

  • Mayo Clinic (MN) – 92.6
  • Cleveland Clinic – 92.3
  • Baylor Regional Medical Center (TX) – 84.0
  • Dana-Farber Cancer Institute (Boston) – 83.6
  • University of Texas MD Anderson Cancer Center (Houston) – 83.1

Impact Advisors’ Thoughts: The scores are solely based on Facebook and Twitter statistics, but it is important to remember that these are all hospitals that have had tangible success actually connecting with patients via those two mediums. For hospitals seeking ways to better leverage social media channels to engage patients in their community, the websites of any of the top-performing hospitals on this list are well worth a visit.

 

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