Over the last 3 or 4 years, the healthcare market has shifted focus to Population Management and with that the analytics necessary to evaluate quality measures and outcomes. This type of data has been critical for patient care, yet falls short when it comes to operations and business management.
How then can we focus on creating performance driven cultures beyond patient care? Business Intelligence can give us that leverage we need to engage our staff and Providers. The key is evaluating where your business is at today with analytic tool(s) and where you want to be.
Let’s assume all practices have Standard Reports and Adhoc Reporting and of those most have some form of Query capability (even if they outsource it). With this assumption we must also assume that the data to produce these reports is coming from a single source. The healthcare industry has tended to be somewhat myopic when it comes to analytics. This is simply because the analytic tools available for practices tends to come from their Practice Management or EHR vendors. Hence, the data that gets reported on, is focused solely on claims, AR, and clinicals.
The next levels of Analytics Adoption require more data to provide a much bigger picture of why things are happening, their trends, and how to optimize your business. What are some of the other places you may want to extract data from? Call Center software, Patient Satisfaction, Surgery Center, Inventory, HR Payroll, and Accounting. In order to begin to operationally predict and respond to changes in your business, you simply must have a complete enough picture. It’s not enough to identify reimbursement changes in your Blue Cross contract, you must be able to optimize downstream by identifying how it will affect your Call Center, Patient Satisfaction Score, or even staffing models.
What are your trends?
What is happening next in your practice?
How do you know you’re prepared to succeed?