Analytics and Value Creation

There is no clear consensus among providers on what constitutes quality Quality is relative among payers Recipient expectations of quality vary by factors like: Age Gender General Health Severity of illness

Cost should be clear: For all services provided For full episodes of care Per all care providers Per all payers

Challenges Creating Value

Payers have overlapping but not identical interests in the quality and the price of services provided. 

Providers have not geared themselves, nor they are reimbursed to produce Value, (new, more, or better value;) rather, they are paid for the volume of services Provided

Value Creation Requires: Reorientation of healthcare providers around quality and cost effectiveness: Commitment to ongoing, real-time learning Reliable and automated bi-directional information. Awareness of effective and waste expenditure. Optimized allocation and efficient use of resources Make healthcare accessible and affordable Promote patient engagement Respect patient as a person, not as a case Safeguard patient from treatment caused injury and infection. Get visible progress best practice outcome

The platform Benchmark and Improve

Benchmark and Improve Support value creation by: Measuring the organization’s health, Ranking results to peers, Identifying services costs, Assessing service prices, Planning improvements Simulating outcome and forecasting results, While meeting accreditations requirements

Benchmark and Improve Industry wide expected results: Facilitate establishing and promoting field-tested best practices, Efficient allocation of resources to Minimize the intervention from outsiders.

The Core is Analytics

The Core is Analytics Put available data to smart use Know your situation Out of the box KPI visualization Self service business intelligence Compare with peers Simulate performance scenarios Forecast results Plan wisely

Internal Dashboard 4 KPI groups measuring the Hospital performance: Quality and patient safety Utilization of Resources Financial Performance Patient Experience  

Internal Dashboard Well defined indicators Industry based indicators Timely & interactive visualizations Benchmark against internally set goals. Expandable at the hospital level to cater for the hospital-specific measurement needs

Internal Dashboard Internal dashboard is a mirror used to check how you look

Industry Dashboard Industry dashboard is a window to compare yourself with others

Industry Dashboard Hospital can benchmark itself to the industry-wide performance Other hospitals are kept anonymous Interactive visualizations on industry performance Updated quarterly All standard Indicators Filtered by hospitals common features Expandable to fit new recommended metrics

It is always time to Improve To facilitate the setting of improvements plans, the platform takes care of the most complicated issues of: Identifying actual costs of products and services Complimented by the tools to price them And a budget building module to: Plan service offering Simulate impact on performance Support making strategic decisions

Activity based cost It is a service costing system: Adopted for hospitals; It speaks the hospital language. Understands the flow for care provision, and Allow for the deployment of all kinds of resources needed to produce services Launch base for pricing and budgeting modules

Activity based cost Characteristics: Essential input to continuous improvement processes. Highlights well performing activities. Identifies non or low value added activities Identifies time and material wasted Provides the actual cost of products and services Helps to fix the prices that are excessive or incorrect Cost Centers Revenue Centers Services

Service Pricing Real cost is now available as main input Standalone and packag prices Packaged services built per providers methods Ability to create and integrate sub-packages, like for pre-OP, probable complications Provides the hospital with the flexibility needed to cope with variables, exclusions, and inclusions.

Flexible Budgeting Plan their activities in terms of services and volume: Per segment Based on historical performance And management expectations Within the constrains of capacity, resources, and contractual, regulatory limitations. Calculate the budgeted revenue and related cost Compare initial budgeted results with actual results Simulate other scenarios and approve budget  

Flexible Budgeting Monitor volume deviation per segment Adjust budgeted revenue and cost to match the actual volume Monitor revenue and cost variances from adjusted budget Analyze variances Recommend volume per segment for coming periods Adjust cost and revenue for coming periods once changed

The platform Many of the techniques and methods are used across different industries. Extra attention is given to the: Privacy of the patient information, Confidentiality of the Provider internal process Confidentiality of Provider’s data and position Necessity to avoid significant investment or systemic changes and Provision of multiple data connection methods up to full integration

An organization is considered healthy when it is Creating Value, Quality Outcome, Great Experience, and the Desired Results. It is a happy organization.

Benchmark and Improve It is All up to you Info@bi.care