The goal of healthcare analytics is to monitor and improve the performance and financial success of an organization. Effective reporting and visualization can uncover opportunities to better a business’s bottom-line and efficiency in ways never imagined before the birth of analytics.
At Practical Data Solutions, we take a tactical, data-centric management approach to our analytic consulting services. After all, if you don't know the right questions to ask - and even more critical - if you don't have a practical way of modeling your data to answer those questions, opportunities for ongoing improvement are lost.
OUR Strategic Consulting Services can assist clients in many areas:
Identify the greatest opportunity for performance improvement in the revenue cycle and measure the financial impact of underperformance.
Measure scheduling utilization efficiency and understand the effect on patient access.
Model proposed payer fee schedules to understand net financial impact on payer contracting using historical data.
Apply statistical forecasting using historical data to understand the implications of ACO and risk contracting.
Dissect the business need to identify appropriate performance metrics, units of measure and relative benchmarks, and fuse the data-staging requirements to support performance management using analytics and reporting.