P3 Reveals How Data Is Solving The Healthcare Crisis For Seniors

Primary care doctors everywhere want to improve the quality of care and precision they provide, but they're restricted by a lack of patient data. As a result, seniors don't get the care they need. Physicians waste vast amounts of time and money on endless, unnecessary testing and treatments that may not be the best option for the patient's condition.

However, when insurers and providers work together via a risk-based model, seniors get the best care possible — without the waste. P3 Health Partners (PIII) operates at the intersection between payers and providers, managing Medicare risk on the insurer's behalf and assuming both clinical and financial responsibility for patient outcomes. Meanwhile, the company helps health plans meet their quality and regulatory benchmarks.

Investing in big data and health care

To achieve all this, P3 leverages advanced analytics and integrated clinical-claims data, helping providers gain a better understanding of their patients' burden of illness. The company provides actionable insight to enable physicians to make more informed decisions, intervene in a more timely fashion, and personalize their care plans, especially for seniors with complex or chronic conditions.

Data analytics presents a potential investment opportunity for investors seeking an under-the-radar way to invest — at the crossroads of big data and health care. Health-care systems around the globe face extraordinary challenges resulting from the aging population and growing disabilities.

Meanwhile, patients expect more from their doctors and a higher level of care. This is where big data and other new technologies come in. In health care, big data comes from a wide range of disparate sources, including patient records, laboratory and test results, various databases, sensors and other devices, transaction data, insurance, documents and other unstructured sources, and others.

However, a critical problem with all this data is that it isn't useful because, while it can be stored, it can't be analyzed using traditional tools. Doctors can't tap into the data they do have because they can't find what they need when they need it. As a result, they can't analyze this data in a meaningful way, making it essentially worthless without new technologies capable of managing it.

However, the good news is that these technologies have arrived. For example, P3 Health Partners addresses the limitations that primary care physicians face by delivering comprehensive and organized patient data, enabling more precise and efficient care.

P3's proprietary Technology/ Health Hub simplifies the physician's workflow while improving care for seniors enrolled in Medicare  plans. The platform integrates claims and clinical data to grant providers a real-time view of every patient's overall health, including their burden of illness, recent utilization and care gaps.

Investing in healthcare and big data

For health-care providers, investing in big data analytics is a necessity. A survey from McKinsey found that companies which effectively leverage big data analytics improve profitability and productivity by 5% to 6%.

A top driver for health-care facilities that plan to adopt better data governance was to improve trust in their data, followed by improving care quality, improving regulatory compliance, and improving patient safety.

For investors, significant opportunities exist in the big-data area of health care, with plenty of room for growth in profits and earnings for companies in the space. According to a survey from Dimensional Insight, more than half of health-care facilities and hospitals still lack proper data governance.

Further, when the burden of illness is correct and doctors can appropriately capture patients' chronic conditions, revenue may rise. 

Technology + support

Of course, big data analytics and governance can only go so far toward improving the patient experience without having additional backup in the form of personnel. Once P3 unlocks the data, providers can create targeted care plans because they have a complete understanding of the patient's disease burden.

Next, physicians need support through the coordination of care to ensure that medications are filled, appointments are scheduled, and patients have the necessary resources to manage their chronic conditions. For example, P3 supports providers through a unique combination of technology and staffing, helping to identify and close critical care gaps, such as missed preventative screenings and specialist follow-ups.

To ensure the best possible outcomes, patients with complex medical needs are assigned dedicated care navigators who help reduce avoidable hospitalizations. This integrated model can improve patient outcomes, enhance care delivery, and support a scalable solution for value-based care, making P3 a key innovator in senior-focused healthcare.

This post was authored by an external contributor and does not represent Benzinga's opinions and has not been edited for content. This content is for informational purposes only and not intended to be investing advice.

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