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Tech Talk

The evolution of cloud data strategies for healthcare payers

Published: December 6, 2020

Undoubtedly, we see an increase in cloud adoption across the healthcare industry with a push towards greater efficiency and collaboration, improving health outcomes.

Watch our discussion with Vinesh Kolpe, Head of Core Platforms and Data Strategy at Magellan Health and a pioneer in leveraging data on the cloud, and Manu Swami, Sr. Vice president, Healthcare and Life Sciences at Virtusa, on their experiences in cloud data transformation and the importance of cloud for healthcare payers. 

 

Highlights from the conversation:

Changes in how payers are utilizing cloud data services 

Cloud adoption has accelerated at a fast pace to meet the evolving healthcare scenario. Payers are investing in technologies that enhance remote monitoring and remote care, such as telehealth and secured data sharing capabilities. They are beginning to realize economies of scale and innovate faster to bring new technologies such as cognitive analytics, AI, and ML into their technology landscape for better business outcomes.

Prioritizing workload data migration to the cloud

A clearly articulated business plan covering the needs of the entire organization is essential. Cultural orientation and training play an important role in driving user adoption. Companies should use a phased approach backed by strategic prioritizing. An effective roadmap involves starting with real-time analytics and moving to mature data programs by standardizing data and tools to drive success in achieving overall business objectives. 

Cloud is enabling cognitive analytics to drive business agility 

Information sharing guidelines by HSS has incentivized the need for higher business agility. There is a huge opportunity to drive intelligence through cognitive analytics and business process transformation - a combination of RPA and data-driven automation, tipping the scale towards intelligent workflows. All aimed at reducing subjective bias and moving towards value-based care and patient-centricity. Examples include using AI and OCR for prior authorization and revenue cycle management. The bottom line is to drive cost and quality healthcare - saving minutes and millions for healthcare payers, moving the needle in the next direction.

Steps payers can take now to accelerate the data-driven transformation

Healthcare is an economic challenge. It is predicted that one out of five dollars will be spent on healthcare in the near future. The focus will be on driving cost optimization. Cost optimization funds innovation, and enabling innovation at scale is imperative for business success. 

The recovery from this pandemic will be digital, and in a data-rich industry such as healthcare, organizations can monetize data through bilateral information exchange, and open platforms and marketplaces. Cloud data transformation will help integrate isolated, disparate processes and workflows and fuel the journey towards the cloud from a digital experience perspective. 

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