Reconsidering the Value this Dataset Provides
Most states have access to their own state data, though the value of this data is often overshadowed by other datasets. In this blog, we’re discussing the top three things you need to know about this state data. These key points may have you reconsidering this dataset and the insights it can provide.
1. State data is the best data to use when answering questions about market share.
Market share growth is a key focus for healthcare strategic planners and the best data to use for this kind of planning is state data. With state data, documentation is generally better since there is a single consolidation point (the state health agency). State data will cover all cases within the reportable requirements including self-pay and charity care, as well as claims processed directly with payers. Moreover, you can expect better coverage with state data, since all facilities report in a conformed way to the state data collection entity.2. State data provides comprehensive inpatient care insights.
While reporting rules can vary by state, it’s generally true that state data offers a high percentage of covered lives - 100% of inpatient care. Where outpatient care is available, ambulatory surgical care is typically included at a minimum, with occasional coverage beyond this. The (usually) strict, enforced reporting requirements mean state data is predictable enough that it can be used as a reliable source of truth.3. State data is extremely valuable for analyzing market trends and understanding a service area.
Because inpatient state data usually contains 100% of the market, it makes it possible to easily track trends over time. By focusing on a specific service area, you can see if cases are rising or falling. If you have initiatives around growing a product or service line, then you can see the impacts of this over time.
The Best Way to Access and Analyze State Data
While state data is predictable and reliable, it can benefit from thoughtful curation to make it more usable for planning. Especially when viewing data from multiple states, there are variances from state to state that should be considered, such as:
- Different release schedules
- Varying code formats: decimal versus non-decimal or county FIPS codes versus state-specific codes
- Different data formats: flat files, CSV files, etc.
Stratasan’s curated state data, which is best accessed through our Launch Pathway tool, makes it possible for users to know where to grow their market share, improve their payer mix, and track demographic trends.
Launch Pathway will allow you to instantly see any movements in your markets and identify outmigration. With its Demographic Maps capability, you can track the population age, income, and percentage of change.
It’s a major time-saver, too. Rather than having to gather data intelligence manually, you’ll have access to it at your fingertips. Plus, this data is automatically updated each time the data is refreshed.
Stated simply - state data, when analyzed through a smart tool like Launch Pathway, will equip you to know where to grow. If you'd like a demo of Launch Pathway, click here to speak with a member of our team today.
Article by Daniel Dreaden, Product Manager for Stratasan