Objectively, we all know the answer to this question. The shift away from a fee-for-service model to value-based care and reimbursement has made it mandatory for healthcare payors and providers to prioritize data in their organizations. That this data must be accurate, clean and of the highest-quality to be of any real use seems obvious enough to go without saying—and it is. So then why ask why one need bother with data governance?
Because despite how vital good data is in today’s healthcare industry, half of all data governance initiatives fail. With odds like that, it’s only logical to question the wisdom of launching a program that will require a considerable amount of time and effort to get off the ground, regardless of outcome.
Beware of the Ostrich Impulse
For anyone tempted to just stick their head in the sand and hope for the best, here’s another hard truth: The volume of healthcare data is doubling every 18 months. There’s no ignoring that much data. But even if you wanted to, you’d still have to contend with the ever-increasing variety of data in healthcare.
On top of traditional structured data, the ability to analyze and account for unstructured social data, third party data and machine-generated IoT data is set to become the deciding factor in who swims and who sinks in the new age of value-based care.
The Secret to Data Governance Success
If you’ve been working in the healthcare data space as long as I have, you know that the odds of success for a data governance program have nothing to do with luck. What you probably don’t know is that they have very little to do with data either. In fact, it usually comes down to just two primary challenges: motivation and resistance to organizational change.
While a little less straightforward than you’d prefer, addressing these two issues is a an entirely manageable task—and one that will pay dividends in the form of more strategic value for your current and future data assets.
Over the next few weeks, I’ll be publishing several additional posts to dive deeper into each of these two common stumbling blocks and what it takes to get past them. You can expect valuable tips and best practices on how to get started, a look inside our proven six-point strategy for data governance sustainability, and more. Check back next week for the first follow-up that takes a closer look at the key challenges involved.
Jump to the Conclusion
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