FinThrive Provides Novel Data for Study Sponsored by the Robert Wood Johnson Foundation
ALPHARETTA, Ga., March 15, 2023 /PRNewswire/ — Utica University research examining communities in New York state has uncovered new socioeconomic insights that can be correlated to clinical outcomes. The findings can be leveraged by providers across healthcare to make formal recommendations to economic and data science teams, in an effort to create a more equitable healthcare experience.
The Robert Wood Johnson Foundation’s Health Data for Action (HD4A) program funded the research, with spatial analysis provided by FinThrive, Inc., a healthcare revenue management software-as-a-service (SaaS) provider. The study used FinThrive data to evaluate the demographics and family structures of New York households and identify specific neighborhoods that could benefit from more informed healthcare interventions. The insights enable researchers to observe specific factors including household arrangements that would impact a patient’s ability to prioritize their health.
The findings demonstrate that demographics such as race and ethnicity, specifically Black and Hispanic/Latino Americans, as well as single-parent households have a direct relation to generational poverty. Generational poverty occurs when two or more generations living in a home or community have not advanced socioeconomic status, which affects all areas of life: financial, social, physical and emotional. Unlike traditional research using census or claims data, this project uses FinThrive socioeconomic data that provides a three-dimensional view, at both the individual and household level, helping to inform intervention programs to positively impact outcomes and reduce unnecessary healthcare spending. The study also found that government stimulus alone will not be enough to aid individuals who suffer from generational poverty to eventually achieve upward economic mobility.
Potential recommendations include stratifying the health and social services needs of their population with considerations for race, ethnicity and family structure. In addition, community programs should target “cold spots,” defined as difficult-to-reach areas that treat populations generationally, within a given geography.
Other valuable use cases for these findings include:
Data for local governments and public health agencies to identify where and what type of services need to be implemented in order to combat social health barriers.
Visibility for Federally Qualified Health Centers (FQHCs) on where critical access hospitals or mobile units need to be deployed.
Upstate Family Health Center in Utica, NY is an example of a provider that is benefiting from such data and research. “During the pandemic, we evolved as a community health center,” said John Milligan, Chief Executive Officer of UFHC. “We saw a lot of behavioral and substance abuse issues, and it became clear that we needed specialized teams to address those areas.” Using data and screenings as a guide, Milligan and his staff were able to implement patient-centric programs such as food drives to ensure that socioeconomic factors correlated to care delivery were addressed. “You can do all you want on the clinical side, but until you find the root of the problem you aren’t going to get anywhere.”
“Spearheading this research was a true honor,” said Michael McCarthy, PhD, Assistant Professor of Data Science at Utica University. “I am so proud of the amazing team whose dedication, focus and unwavering humanistic approach allowed us to gain insight into the significant role generational poverty plays in health equity and the need to prioritize a patient’s economic status in a meaningful way within healthcare.”
“Census and claims data can be helpful in certain instances, but the value is undermined by out-of-date, incomplete or biased perspectives of a person’s life,” said John Yount, Chief Innovation Officer at FinThrive. “The FinThrive data shows all the activity happening outside of the healthcare setting. Layer that into a clinical workflow or apply to a housing/food distribution program for a diabetic Medicaid population, for example, and you can create opportunities to improve overall experience and reduce total medical costs. Our goal is to uncover insights that have a positive impact on US Healthcare, helping to support and drive health equity.”
Continuing to utilize this data, the Utica University research team is expanding their analysis to include North Carolina, Arizona, California, Virginia and Texas. Results from these studies are forthcoming in 2023. FinThrive and Utica University will continue to publish findings as they become available.
FinThrive provides one of healthcare’s most comprehensive revenue cycle management SaaS platforms, offering patient access, charge integrity, claims management, contract management, machine learning & robotic process automation, data & analytics, and education software solutions to 3,200+ healthcare providers. FinThrive’s end-to-end software platform helps healthcare organizations increase revenue, reduce costs, expand cash collections, and ensure regulatory compliance across the entire revenue cycle continuum. For more information on the FinThrive story, visit www.FinThrive.com
About Upstate Family Health Center
Upstate Family Health Center, Inc. is a 501(c)(3), not for profit, federally qualified health center, offering family health care services to individuals of all ages at various locations including Utica and Rome throughout the Mohawk Valley. The experienced and dedicated staff provide the highest level of care, while ensuring that the patient’s needs come first. Upstate Family Health Center is building bridges to better healthcare.
About the Robert Wood Johnson Foundation
The Robert Wood Johnson Foundation is the nation’s largest philanthropy dedicated solely to health. Since their founding in 1972, RWJF has worked to improve health and healthcare in the United States. RWJF supports efforts to build a national Culture of Health rooted in equity that provides every individual with a fair and just opportunity for health and well-being, no matter who they are, where they live, or how much money they have. They do this by supporting research, programs, policies and practices aimed at bringing about meaningful change and improving the lives of everyone in our nation now and for generations to come. To learn more about the Robert Wood Johnson Foundation visit https://www.rwjf.org.
About Utica University
Utica University is a private university in Utica, New York founded in 1946. They offer numerous accredited and recognized programs including their Master of Social Work program, and their master’s degree program in nursing (Family Nurse Practitioner [FNP], Leadership and Education), and post-graduate APRN FNP certificate programs are accredited by the Commission on Collegiate Nursing. To learn more about Utica University, visit https://www.utica.edu.
VP, Strategic Communications, FinThrive
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