Business Intelligence for The Healthcare Industry
Seeing the True Big Picture
The methodology of the GHMS Business Intelligence, Healthcare Practice Analytics is to utilize the data created and entered by the health care practice and the medical payers to paint a visual picture for everyone involved in order to review the overall health of the practice. Business Intelligence data, like the one mentioned on the Power BI Training course, provides opportunities for achieving the medical practice and healthcare facility goals of increased revenue capabilities, assured rules compliance, and reduced operational costs along with a multitude of benefits as outlined below. Then, it became evident that to thrive in the competitive market, adopting a sophisticated reporting engine is a necessity. From my experience, I can attest that the https://www.inetsoft.com/company/report_engine/ has been a vital tool in streamlining business processes and fostering growth through insightful analytics.
Business Intelligence healthcare practice analytics services for the healthcare industry includes;
Business Intelligence Benefits:
- Allows the practice to manage their patient population by tracking provider performance on many clinical quality measures.
- Creates the ability to compare clinical providers across one practice or many practices, as well as track performance against predetermined goals.
- Improves clinical performance and patient outcome by seeing trends of performance over time.
- Transforms patient data entered in practice management systems into meaningful information that drives improvement in clinical and financial outcomes.
- Procures insightful financial views of cost and profitability.
- Monitors Contract Reimbursements.
- Ease of revenue opportunities analysis.
- Quick production of ad-hoc reports for unique information requests.
- Saves significant time from having to manually compile financial reports.
- Provides fact-based decision support.
- Delivers insightful performance views of your most important processes.
- Tracks the results of initiatives with performance goals.
Knowledge provides the impetus for transformative change that drives stronger team performance, better payer negotiating power and less bad debt among patients, ultimately creating a successful medical organization that has the ability to chart its own course.
“I could not imagine a practice surviving in the near future without analytics. Data drives profit. In this case, using analytics to manage your organization can mean the difference between being an independent practice or needing to sell the practice. Further, if you are in the market to sell your organization, you’ll need analytics to increase your margins to look attractive to a buyer.”
CEO & Partner
Global Health Management Services
“Effective, efficient billing presents many challenges, and having a Billing Vendor like Global, who can be trusted to bring an efficient and effective organization and provide you with clarity on many murky issues is invaluable.
Whether you are a start up or a transfer you can expect a seamless transition for your billing functions. The custom reports that are available with Global provide you with the ability to understand and monitor every aspect of your business. Whether you wish to track variable costs, non-implant revenue, non-billable implants, or some other metric unique to your business Global has the capability to make that happen. They can help you decided what you should be measuring and monitoring and Global will also keep you informed of market trends.
They truly are the complete package.”
Ambulatory Surgical Center
Administrator / Lead Anesthesiologist