Healthcare is clearly becoming one of the more challenging industries in which to operate. The need to balance quality patient care with controlling costs and meeting regulatory requirements is stretching the resources of many healthcare providers.
As a result, leading organizations in the industry are turning to business intelligence (BI), analytics, and enterprise performance management (EPM) software solutions to help them better monitor and manage their operations.
That was the focus of a recent event co-sponsored by Planful, along with our partners Waypoint Consulting and Qlik. The event featured presentations by a number of leading healthcare providers and consultants. Here are the highlights.
Christiana Care’s Triple Aim Dashboard
Donna Mahoney – Project Leader, Population Health/Applied Analytics, Christiana Care – presented their Triple Aim analytic solution, featuring a dashboard that integrates financial, clinical, and patient satisfaction data from over 17 disparate data sources. The dashboard includes high-level trend charts with drill-down capabilities into patient-level detail. This dashboard application is accessed by 350 users across the organization, getting over 30,000 hits per year. More importantly, it has enabled 7 out of 9 service lines to improve their “optimal health” grade and has also reduced readmissions for several specific conditions.
PinnacleHealth System Using Predictive Analytics in Staffing
Steve Stepp – Director, Corporate Engineering & Intelligence, PinnacleHealth System – presented on their use of predictive analytics in staffing. PinnacleHealth has been recognized as a forward-thinking organization with regard to its analytic capabilities. During the session, Mr. Stepp highlighted how PinnacleHealth has deployed its predictive analytic solution to address readmissions and, more recently, staffing.
Aspen Dental Using the Cloud to Improve Financial Planning and Reporting
Chris Duffy – Senior Manager of Financial Reporting, Aspen Dental Management – presented a session about their use of Planful’ cloud-based EPM platform to improve financial planning and reporting. The users of the system include Accounting, FP&A, Support Center Department Leads, Operations VPs, and Directors.
The solution was implemented in 4 months, replacing Excel and some legacy applications. The solution has yielded a number of benefits, including improved usability, more user engagement, as well as increased flexibility and adaptability to keep pace with changing business conditions. It’s also led to Finance process transformation, such as a shorter period-end close.
Rochester Regional Health Gains Big-Picture Focus as Well as Everyday Needs
David Meintel – Director of Business Intelligence, Rochester Regional Health – presented a session focused on their enterprise data warehouse project. The daily appetite for clinical and operational analytics continues to increase at RRH. Mr. Meintel presented how Rochester Regional Health is balancing their everyday analytic needs, including tool selections, while staying on track to deliver an enterprise information platform through their data warehouse.
Transparency with Cost Utilization: Getting Everyone on the Same Page
Sonia Barbosa – Director, Network and Risk Model Analysis, Healthfirst – delivered a session focused on managing costs and utilization. The changes in healthcare are driving a new relationship between the plans, hospitals, and physicians. There is a significant amount of data in the industry, different lenses to view the data, and a high demand for the data.
The CUTS application was created with the collaboration of Healthfirst’s partner hospitals, their physician groups, and Qlik. It has been well-received. The risk-taking entities are enjoying having their financial information at their fingertips and the flexibility to drill down and better understand what drives their performance.
Big Data – Yep. Big Results? Not so Much. Getting to Executive Value
Andrea Coleman – Former Hospital CEO & Regional President, Vizient Health (VHA) – wrapped up the day with some advice about getting more value from “big data.” Too many hospitals lack internal human/team processes to utilize ever more powerful data. Ms. Coleman provided her C-level perspective with regard to what is needed, at a hospital, to actually get somewhere with data.
Improving Agility in Healthcare
Overall, it was a great event. The audience got to hear how all of these leading healthcare organizations are leveraging EPM, BI, and analytics technologies to streamline business processes, improve insights into their business, reduce costs, and navigate the changing landscape of the healthcare industry.
To learn more about how Aspen Dental and other organizations are transforming their finance processes, check out this webinar replay.
Three views of finance transformation webinar replay