More hospitals are using the Triple Aim framework as a systematic approach to thinking about value.
The Triple Aim framework from the Institute for Healthcare Improvement is designed to help hospitals optimize performance by focusing on three dimensions: Population Health, Experience of Care and Per Capita Cost.
As hospitals dig deeper into the framework, they are finding that a data-driven culture is at the heart of the approach. Without the right tools (data) and processes to capture them, hospitals will have a tough time maximizing the benefits from utilizing the Triple Aim framework. At a recent roundtable sponsored by HealthLeaders Media, the need for excellent data was discussed in depth:
“The triple aim objectives are a really great framework for thinking about value,” says Mouneer Odeh, vice president of enterprise analytics and chief data scientist at Thomas Jefferson University and Jefferson Health in Philadelphia, Pennsylvania.
“The patient experience is obviously a critical driver of that—the health outcomes and then, obviously, the financial cost.”
A key enabler of measuring value is a data-driven culture and analytics tools, Odeh says. “There’s such a huge gap between our current capabilities and the potential that exists.” Lending perspective to Odeh’s opinion are his previous stints directing analytics at firms in other sectors of healthcare, such as pharma, life sciences, and diagnostics.
“If we don’t understand the value of what we’re providing to our patients, Medicare is going to take back X number of dollars for every patient that we serve,” says Stephen Allegretto, vice president of analytic strategy and financial planning at Yale New Haven Health in New Haven, Connecticut.
Read the roundtable summary here: Healthcare Executives Discuss Different Ways to Measure Value
High-quality data is at the heart of the Triple Aim framework. Hospitals should ensure that they have the right systems, tools and processes to successfully capture and mine the data that can help them meet their value objectives. With sub-standard data, or a lack of understanding of how to properly analyze the data, hospitals will fall short of their value-driven goals.