79 Percent of Healthcare Leaders See ROI in Clinical Surveillance; Four in Five Say it Definitely Improves Quality Measures
BALTIMORE, Feb. 5, 2019
BALTIMORE, Feb. 5, 2019 /PRNewswire/ -- Sage Growth Partners (SGP), a Baltimore-based healthcare research, strategy, and marketing firm, today announced new survey findings on how clinical surveillance is prioritized and managed by healthcare delivery organizations.
The survey of healthcare executives from hospitals across the U.S.* was commissioned by VigiLanz, a clinical surveillance company, to assess their progress in the journey to higher value care and how they are using data analytics, EMRs, and clinical surveillance tools to support their efforts.
Key findings include:
Majority are using a clinical surveillance solution and see it as important to their organization
- Most hospitals (96 percent) are using some sort of clinical surveillance solution, whether from a third-party, built in-house, or as part of their EMR. Four percent do not perform any kind of clinical surveillance.
- The majority (88 percent) say clinical surveillance is extremely, very, or moderately important to their organization. Nine percent said it's only slightly important, and 3 percent said it was not important at all or they did not know its importance.
- Respondents identified the top five ways clinical surveillance can be most helpful today as: (No. 1) identifying adverse drug events, (No. 2) advancing antimicrobial stewardship initiatives, (No. 3) patient safety alerts, (No. 4) preventing inpatient infections, (No. 5) managing readmissions.
EMRs aren't meeting all hospitals' clinical surveillance and data analytics needs
- Most respondents (71 percent) said they invest in additional technology solutions to help them synthesize and understand EMR clinical data; 29 percent do not.
- Forty percent of respondents use their EMR for clinical data analytics, 27 percent use it for financial data analytics, and 26 percent use it for operational data analytics. Five percent said their EMR does not offer any of those data analytic capabilities, and 2 percent said they do not leverage their EMR's data analytic capabilities.
- Of the respondents who use the clinical data analytics portion of their EMR, 29 percent said it works extremely or very well, 49 percent said it works moderately well, and 22 percent said it works slightly well or not well at all.
The return on investment (ROI) for clinical surveillance is clear
- Some 79 percent said there is probably or definitely ROI from clinical surveillance solutions; 19 percent were unsure, 2 percent said there was probably no ROI.
- The large majority (92 percent) said their clinical surveillance technology definitely or probably helps them improve quality, 8 percent were unsure. No respondents answered in the negative.
Link between hospital revenue and value-based care is strong going into 2019
- About a quarter (23 percent) of respondents said at least 31 percent or of their revenue will be tied to value in 2019. Of those, 6 percent said more than half of their revenue will be tied to value.
- Of respondents who solely use a third-party solution for clinical surveillance, more than one-third (37 percent) said over 31 percent of their revenue will be tied to value-based contracts in 2019.
- Only 15 percent of respondents who solely use an EMR for clinical surveillance said over 31 percent of their revenue will be tied to value.
"As hospitals continue to take on more value-based payment models, their ROI for clinical surveillance will grow," said David Goldsteen, MD, CEO of VigiLanz. "At the same time, our survey showed that those who use a third-party solution for clinical surveillance are also more involved in value-based payment models, suggesting that they view clinical surveillance is a key lever for their success. I believe that we will only continue to see hospital leaders and physicians choose these solutions for a broader spectrum of patient care insights than is available through EMRs. These insights lead to more optimal care decisions that help them meet quality and cost targets and will lead to greater success under value-based payment models now and in the future."
Sage Growth Partners was commissioned by VigiLanz to survey 100 healthcare executives from hospitals across the country in November 2018. Most survey respondents (94 percent) identified as members of the C-suite, such as CEOs, CFOs, CIOs, CMOs, and CNOs. Three quarters of respondents were from short-term acute care hospitals, but other organization types included children's hospitals, long-term acute care hospitals, specialty hospitals, and rehabilitation hospitals. Respondents represented a variety of hospital sizes, ranging from 50 to 99 beds to more than 1,000 beds, with nearly half of respondents hailing from hospitals with 200 to 499 beds.
About Sage Growth Partners
Sage Growth Partners accelerates commercial success for healthcare organizations through a singular focus on growth. The company helps its clients thrive amid the complexities of a rapidly changing marketplace with deep domain expertise and an integrated application of research, strategy, and marketing.
Founded in 2005, Sage Growth Partners is located in Baltimore, MD and serves clients such as Philips Healthcare, Quest Diagnostics, Launchpoint, Ingenious Med, and ArborMetrix. Visit us online at www.sage-growth.com.
Founded in 2001, VigiLanz (www.vigilanzcorp.com) is a privately held, rapidly growing provider of SaaS-based clinical surveillance solutions. The firm is focused on aggregating disparate EHR transactional workflow and documentation data across health systems to identify real-time clinical issues that avoid or minimize harm, optimize clinical outcomes and support preventive care. VigiLanz supports a large and growing community of hospital CMOs, CMIOs, CIOs, quality teams, infectious disease and control specialists, pharmacists, and other clinicians dedicated to real-time inpatient and outpatient care.
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SOURCE Sage Growth Partners