Research

Considering a data driven approach to CVR? Make sure you can answer these three questions first.

Overview

In light of Covid-19 financial pressures, many organizations are doubling down on their CVR strategy to cut costs while boosting efficiency and quality. While many organizations have prioritized CVR efforts in the past—revisiting the opportunity as part of a 2021 strategy will require that you identify the most actionable opportunities with a strong ROI and explicitly communicate which success metrics your organization will be accountable to.

The Advisory Board has developed an interactive Care Variation Reduction Opportunity Assessment to help you quickly view your organization’s Medicare data and top opportunities without any data inputs needed. This analysis segments patients by MS-DRG and Hierarchical Condition Category (HCC) risk tier to ensure a granular and robust variation analysis, and calculates variation across service lines, conditions, physicians, and cost centers to help you identify your top opportunities.

Whether you use the data in our tool, or your own analysis, make sure you can answer the three most common questions below to identify the right opportunity, get organizational buy-in, and advance your data-driven CVR strategy.

The three questions
  • How do I identify where my organization has the greatest variation?
  • How do I decide which benchmarks to compare my organization against?
  • How can I sustain momentum for CVR with defensible outcomes metrics?

For a quick and easy way to evaluate your top CVR opportunities check out our new Care Variation Reduction Opportunity Assessment. If you need help with the tool or would like to work with our expert team to evaluate your 2021 CVR strategy please visit Ask Advisory.

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