How to Uncover Growth Opportunities with Provider Data

The healthcare industry is at a crossroads, facing the dual challenge of rapidly evolving technology and the increasing demand for quality care. In this dynamic landscape, growth is a mandate for healthcare organizations. One untapped resource is reliable, comprehensive provider data. A complete provider directory offers insights, among many things, into the provider network by mapping out the relationships between providers’ workplaces, entity structures, and health plan acceptance. Healthcare organizations and digital health companies can leverage this information to uncover growth opportunities with provider data.

Understanding the Importance of Provider Data in Healthcare

In today's digital age, the significance of precise and comprehensive provider data cannot be overstated. Data fuels decision-making, and strategic growth decisions in healthcare rely heavily on accurate and up-to-date provider data. This data resides at the heart of provider directories, forming the foundation for effective patient care and improved operations and healthcare experiences

Provider data encompasses a vast amount of essential information, ranging from physician credentials and specialties to facility locations or insurance affiliations. This repository of data guides patients in selecting the right healthcare providers. Also, it is the backbone of healthcare organizations’ operations and key to efficiently delivering appropriate care

However, finding a trusted source of information for provider directories needs an understanding of the nature of the data and knowledge of how the data is created, structured, and ultimately used. The data is specialized, requiring human-centered labeling and structure to navigate and segment. Whether it’s aggregating providers into “primary care” (a category that does not exist in current industry-standard taxonomies) or identifying subspecialties such as Bariatric Surgery, Electrophysiology, or Behavioral Analysts, finding a source that is not only reliable but navigable is paramount. Additionally, understanding the context in which a provider works and delivers care, from both a facility and affiliation perspective, is critical to conducting market research and identifying growth opportunities. Tackling these nuances in the data requires a partner with a robust infrastructure, advanced analytics capabilities, and a collaborative approach involving providers, IT professionals, and data scientists.

Challenges in Utilizing Provider Data and Directories

While provider data and directories hold immense potential, several challenges often hinder their utilization in healthcare organizations. One common obstacle is the need for interoperability and standardization across the industry. Despite efforts to establish industry-wide data standards, data fragmentation remains a significant barrier to effectively harnessing provider data. Because there is no one primary source for some of the most volatile fields (contact information, affiliation, actively providing care), this data is fragmented through many different reporting channels and becomes stale quickly. This fragmentation limits the ability to aggregate and analyze data and hampers the seamless exchange of information between healthcare providers, hindering care coordination and continuity.

Another challenge lies in the variability and quality of data captured by providers. Due to differences in documentation practices, coding standards, and various data management systems, data may not be consistent, complete, or accurate. This can lead to challenges in data analysis and decision-making and potential errors in clinical care. Because of data gaps and fragmentation, incentives in provider self-reporting must be aligned and supplemented with training to communicate the importance of keeping information up to date. Additionally, we can use data science to fill gaps created by these disparate reporting processes and assess confidence in given data sources.

Leveraging Provider Data and Directories

Despite the challenges, leveraging provider data and directories offers numerous advantages and opportunities:

  • Geographic Analysis and Market Segmentation: Geographic data plays a pivotal role in understanding the distribution of providers and healthcare facilities in specific regions. 
  • Specialty Analysis: Specialty analysis is vital for healthcare providers seeking to develop centers of excellence or enhance specialized care services. 
  • Market Analysis and Formulating a Recruitment Plan: Health tech companies and healthcare providers can leverage market analysis from provider directories to understand the provider landscape in specific regions comprehensively. 
  • Entity Affiliations: Healthcare organizations can analyze affiliations between providers and healthcare facilities to understand the network of collaborations and affiliations. This knowledge enables providers to identify potential opportunities for collaboration, referrals, or strategic partnerships.
  • Operational Efficiency: Provider directories offer comprehensive information about healthcare professionals, including their specialties, locations, and network status. By leveraging this information, healthcare organizations can streamline patient referrals, reduce wait times, and improve access to care.
  • Network Management and Partnerships: Organizations can build networks that align with their strategic goals by identifying healthcare professionals and facilities that meet specific criteria. This enables collaboration, knowledge sharing, and the development of integrated care models, ultimately improving the overall quality of care.

Case Studies of Successful Provider Directory Implementation

Several healthcare organizations have successfully implemented strategies to leverage provider data and provider directories, improving patient outcomes and operational efficiency.

One notable example comes from an Orderly Health customer, Truveris. Driving enhanced transparency and accessibility within the national pharmacy landscape, Truveris is a privately held health tech company that aims to lower costs across the prescription drug ecosystem. With its on-demand data access services, Truveris offers nationwide coverage to its clients. By leveraging Orderly's extensive database of over 5.9 million practitioners, Truveris products provide seamless access to valuable insights. These insights allow customers to pinpoint healthcare providers within a specific radius based on demographic criteria, enabling them to recommend suitable options to end users. Truveris's commitment to being a reliable source of truth in the industry has decreased reliance on multiple fragmented data sources. Instead, their platform consolidates information from various channels into one centralized hub. The key results achieved by Truveris include building scalable products and services driven by provider data using Orderly's APIs. This integration allows for ease of expansion and facilitates tens of thousands of API calls per month. Furthermore, Truveris launched a new product that empowers patients to find the lowest cost for their prescriptions. By tapping into Orderly's comprehensive dataset, this innovative solution has opened up a new avenue for growth while benefiting thousands of new users. 

Future Trends and Opportunities of Provider Data and Directories

As technology advances, the potential for leveraging provider data and directories in healthcare is only set to grow. Emerging technologies such as artificial intelligence and machine learning offer new opportunities for data management, analytics, and security.

For example, artificial intelligence algorithms can analyze large datasets more efficiently and accurately than humans, enabling faster identification of trends and patterns. Machine learning algorithms can predict patient outcomes, personalize treatment plans, and support clinical decision-making. These advancements hold great promise, not only in improving patient outcomes but also in how we manage provider data. 

At Orderly Health, we firmly believe these technologies will play a pivotal role in enhancing the accuracy and accessibility of provider directories. Built on a platform of machine learning and AI, the Orderly Provider Directory has aggregated and assessed over 1.3 billion data points into one reliable source of truth for over 6 million practitioners. With comprehensive provider data, health tech companies and providers are now more enabled than ever to create personalized recruitment plans, use specialty analysis for establishing centers of excellence, and form strategic partnerships to enhance patient outcomes and improve healthcare services. 

Discover the advantages of using the Orderly Provider Directory and transform your growth strategies. Visit Orderly Provider Directory to learn more.