Value-based care has marked a critical transition for the healthcare industry. A payment model that serves as an alternative to traditional fee-for-service approaches, it prioritizes patient outcomes and compensates providers for efficiency and effectiveness. Healthcare providers are assessed on parameters like fewer hospital readmissions, better preventive care, and certified health IT.
Since there is a heavy emphasis on lowering costs, there is a correspondingly high need to increase collaboration between various entities. For instance, a provider who comes later down the line would have access to the complete medical history of the patient. As a result, the expenses associated with duplicative tests and unnecessary procedures would be significantly less. However, even though it reduces patient costs, it requires better data-sharing capabilities and collaboration between patients, healthcare providers, payers, or other accountable care organizations (ACOs). The low-code approach can help in this area.
How Low Code Can Support Value-Based Care
Low-code platforms offer several technical features and capabilities that enable them to address the challenges of value-based care. For instance, low-code platforms use drag-and-drop interfaces, pre-built components, and visual programming tools, which help with developing applications rapidly.
As a result, providers healthcare providers can quickly build and deploy applications. It also allows them to address specific challenges in value-based care, such as care coordination, patient engagement, and performance measurement.
Built-in analytics and reporting tools empower healthcare providers to analyze data, monitor performance and generate reports on essential quality and cost measures. They can also identify areas for improvement and quickly modify or expand their applications to meet changing needs. In addition, low-code platforms enable value-based care providers to adapt to changing funding models, regulatory regulations, and clinical best practices.
Low-code platforms are also usually equipped with robust security and compliance features, including user authentication and authorization, data encryption, and auditing. As a result, they can securely manage and share patient data in compliance with HIPAA and other regulations.
Benefits of Low Code for Value-Based Care
Care coordination and management
Value-based care requires care coordination and control to guarantee that patients receive high-quality, efficient, and effective treatment suited to their needs. Typically, care coordination and management involve complex tasks and processes requiring collaboration among multiple healthcare providers, patients, and caregivers.
Low-code platforms enable this, as they are designed to be user-friendly and require less technical expertise. As a result, practitioners can use low code to develop and deploy customized solutions without relying on IT departments or software developers. In addition, low-code pre-built modules and templates can streamline and automate appointment scheduling, patient tracking, etc. Not only does this save time, but it also reduces the risk of errors or miscommunications. Finally, low-code platforms can easily be integrated with other healthcare systems and technologies, such as electronic health records (EHRs), telehealth platforms, and mobile apps.
Population health management
Population health management is an essential aspect of value-based care because it focuses on improving the health outcomes of the entire demography rather than just individual patients. By analyzing data across large groups of patients, healthcare organizations (HCOs) can identify trends and disparities in health outcomes and develop targeted interventions. This approach can help reduce healthcare costs by preventing costly medical procedures and hospitalizations and improving overall patient outcomes.
Low-code platforms provide a more user-friendly interface, automate data analysis and reporting, and facilitate the development of custom interventions. Ultimately, this can lead to better health outcomes for entire populations and a more sustainable healthcare system.
Patient engagement and empowerment
Patient engagement and empowerment include patients in healthcare decision-making. It also offers resources and tools to help them manage their health. It is an essential aspect of value-based care that helps improve patient outcomes and reduce healthcare costs.
Low-code platforms are user-friendly and accessible to patients with varying technical expertise. Healthcare providers can create custom portals and mobile applications, enabling patients to access their health data and connect with healthcare practitioners. Customizing pre-built patient or demographic modules and templates at granular levels increases patient engagement and removes care bias. Finally, low-code systems can integrate with telemedicine, smartphone apps, and wearable devices so patients receive more personalized healthcare.
Clinical decision support
Clinical decision support (CDS) refers to using technology and data to help healthcare providers make informed decisions about patient care. It is critical to value-based care because it helps healthcare providers deliver more efficient, effective, and personalized patient care. In addition, a low-code platform makes clinical decision support easier than a traditional platform.
Its pre-built algorithms and rules engines can be customized to fit unique demands, speeding up CDS tool development and deployment. Moreover, its user-friendly interface helps healthcare practitioners access and evaluate patient data and make educated diagnostic, treatment, and care management decisions.
Low-code platforms can be integrated with EHRs and laboratory information systems to give healthcare practitioners a complete picture of patient health.
Quality improvement and performance measurement
Value-based care relies on quality improvement and performance evaluation to enhance clinical processes, assure patient care, and identify areas for improvement. By measuring and tracking performance, healthcare organizations can identify opportunities to reduce costs, improve patient outcomes, and enhance the patient experience.
Low-code platforms contribute to quality improvement and better program management by quickly capturing and analyzing data from multiple sources. These could include electronic health records (EHRs), claims data, and patient-reported outcomes, providing a more comprehensive view of patient health and healthcare delivery.
Value-Based Care and Low-Code Platforms, A Winning Duo
Global consulting leader McKinsey estimates that the continued traction in the value-based care market could lead to a valuation of $1 trillion in enterprise value for payers, providers, and investors. [1] The global low-code platform market revenue is expected to reach 32 billion U.S. dollars in 2024 from 22.5 billion in 2022. [2]
There is immense potential for low-code platforms to further the cause of value-based care. Value-based care focuses on improving patient outcomes and reducing healthcare costs. At the same time, low-code platforms provide a more user-friendly and efficient way to manage patient data, streamline clinical workflows, and leverage clinical decision support tools.
These two techniques can enhance patient outcomes, clinical processes, and healthcare costs while improving the patient experience. The future of healthcare delivery lies in innovative and efficient solutions, and value-based care and low-code platforms are at the forefront of this transformation.
References
- Alterman, Khanna, & Levine. (2022, December 16). Investing in the new era of value-based care. McKinsey & Company. Retrieved March 6, 2023, from https://www.mckinsey.com/industries/healthcare/our-insights/investing-in-the-new-era-of-value-based-care
- Vailshery (n.d.). Low-code development platform market revenue worldwide from 2018 to 2025. Statista.
