Building ROI into Performance Management
Using Business Intelligence software, a mid- sized hospital recently expanded their treatment capacity by more than 20%, minimizing treatment bottlenecks and reducing their Average Length of Stay (ALOS) by 1 day. The effect was equivalent to adding 50 beds to the hospital’s total capacity.
Another hospital increased their profitability by 8% by analyzing and reducing procedure costs relative to reimbursement rates. Executives were able to identify which procedures were consistently loosing money for the hospital and take corrective steps. Performance Measurement data was used to help negotiate increased reimbursement rates from their payers.
Over the last 10 years, most healthcare institutions have introduced some form of Business Intelligence into their strategic planning process. From multi-million dollar enterprise-wide solutions to division-specific systems, most institutions have had varying results.
Industry experts estimate that while over 95% of hospitals currently have a Business Intelligence or Performance Management solution, fewer than 5% have attained the results that are possible with true correlated data.
Decreasing costs while increasing revenue requires a system that is easy to use and permits data to be both compared and analyzed. This ability allows executives to pinpoint the root causes of problem areas.
Now BI solutions can be fully integrated across the organization to provide a “total view” for executive management
The first and perhaps most important ingredient of an effective Business Intelligence solution is the ability to gather comprehensive data from across the organization. Existing solutions often have too limited a scope to have the kind of impact described above. Collecting and comparing information from clinical, finance, human resources, operations, billings, quality and other systems makes it possible to identify areas for improvement and increased profits.
An Improved Approach to Performance Management
ABS System Consultants was formed in 1984 by a group of analysts specializing in Decision Support Systems. Serving major corporations such the Ontario Ministry of Health, the Royal Bank(RBC), Kraft Foods and others, ABS helped clients leverage their existing business intelligence solutions to decrease operating costs while achieving higher revenues.
Based on the challenges they experienced working with different BI solutions on the market, ABS created Metrics3D, a revolutionary performance management solution that combines comprehensive integrated data, sophisticated business logic with an easy-to-use interface to deliver a tangible on Investment (ROI).
Building upon the success of Metrics3D, HospitalMetrics delivers dedicated decision support for healthcare facilities. Over the past 5 years, healthcare executives have used ABS’ technology to significantly improve their financial and operational performance by:
Using predefined templates designed for hospitals
Integrating all data into a single web-based system
Supporting flexible analysis in real-time
Sophisticated Decision Support
By aggregating data from sources like ADT, Finance, human resources and others, HospitalMetrics can quickly leverage existing IT infrastructure investments allowing non-technical users to easily produce the reports they need from hundreds of predefined performance indicators, presentation dashboards, graphs and charts without the assistance of IT. And following a fast implementation, HospitalMetrics requires little ongoing support or maintenance.
Customers are able to dramatically reduce the total cost of ownership (TCO) for any Business Intelligence system while realizing the tremendous financial, clinical and economic benefits of advanced performance management.
Immediate Performance
HospitalMetrics provides over 1200 built-in performance indicators that allow executives to quickly access hot button performance areas and develop immediate results for their organization. Predefined reports provide key information relevant topics such as:
Case Costing Optimization
Quality Monitoring
Financial Control
Denials / Claims Management
Pay-for-Performance Reporting
Inpatient Census Analysis
Human Resources Management
From data on Admissions, Case Costing, Denials, Payers, Human Resources, Utilization, Patient Satisfaction and more, HospitalMetrics provides a comprehensive analysis of all Operations.
Guaranteed Results
With more than 20 years of experience in business intelligence solutions, ABS Systems is a leader in healthcare decision support. Over the years ABS has worked with many different Business Intelligence vendor solutions to help our customers improve their results. We know how to make Business Intelligence pay off for our customers.
And we guarantee results.
If our solution does not meet our customer’s goals, we promise to refund the entire fee paid for our solution. We know of no other company that makes this promise. We can make this promise because for over 20 years we have been hired to do just one thing – improve results for our customers.
Some of the features include:
Key Performance Indicators Built in hospital specific Key Performance Indicators such ALOS, Case Mix Index Ratio, Occupancy Rate, Pt Days, Readmission Rate, Medication Error %, Patient Satisfaction, MDS/RUGSIII and more.
Predefined Reports Quickly analyze your performance using prepackaged reports on topics such Quality, Pay-for-Performance, Case Costing, Inpatient Census, Human Resources, Claims Management & more.
AdHoc Reporting Create sophisticated reports-on-the fly with no need for IT support. Supports full OLAP functionality, advanced time series/trend/statistical analysis and more.
Drill Down Capability Seamlessly move from high level dashboards down to Dept., unit and physician level to find the “needle in the haystack”
Benchmarking View goals and targets achieved against historic levels, internal targets, other organization, and national averages.
Balanced Scorecards Using many of the methodologies popular today, leverage scorecards to provide a full overview of your Hospital’s performance
Correlations Determine positive and negative relationships between seemingly unrelated events.
Automatic email alerts Set threshold levels to automatically alert Management when adverse events occur.
Export Quickly export graphs, charts and source data for use in presentations and other documents.
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