MCCLEAN, Va.--(BUSINESS WIRE)--A new survey commissioned by Verato, the identity experts for healthcare, provides new insights into healthcare executives' data management strategies and reveals the importance of Healthcare Master Data Management (hMDM) for closing critical gaps, enabling frictionless data exchange and meeting the requirements of the 21st Century Cures Act. Critically, while more than half of surveyed organizations (61%) have invested effort and resources into meeting the requirements of the Cures Act, only 36% report having the necessary comprehensive data quality programs in place to do so.
The 21st Century Cures Act set standards for the secure and frictionless exchange of data among payers, providers and consumers, including the establishment of an information-blocking rule that was finalized earlier this year. Recently, the U.S. Department of Health and Human Services (HHS) released a new proposed rule to establish information blocking disincentives for hospitals and health systems. Under the rule, if the HHS Office of Inspector General (OIG) determines an eligible hospital has participated in information blocking, that organization may be limited for incentives through the Medicare Promoting Interoperability Program, the Quality Payment Program and the Medicare Shared Savings Program. Only 41% of respondents report being able to completely comply with the info-blocking rules set forth in the Cures Act.
When asked about their readiness for specific provisions of the Cures Act, fewer than half of respondents said their organizations are fully compliant in these key areas:
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Sending electronic notifications of patient activity to other healthcare organizations (44%)
Obtaining patient consent and authorization to share their data with external sources (46%)
Maintaining technical infrastructure that ensures secure information exchange (43%)
Sharing patient-level information with patients, other healthcare organizations and systems (43%)
Receive patient-level information from other healthcare organizations and systems (43%)
“With the new proposed rule outlining disincentives, the pressure is on for hospitals and health systems to invest in the right data infrastructure,” says Clay Ritchey, CEO of Verato. “The information blocking rules in the 21st Century Cures Act will also significantly raise the amount of data that flows between organizations within the healthcare industry. If executives aren’t confident in their technical ability to handle this influx, we encourage them to start taking the necessary steps now.”
