It’s reasonable to surmise that analytics tools can help healthcare organizations reduce cost and improve care, due to “big picture” insights that drive strategy. However, these insights need to be accessible by more than just senior management, and should include patients, caregivers, physicians, providers, payers, and more.
We know this is true because according to HIMSS, “Clinical and business intelligence efforts empower members with practical guidance and unbiased information on how to harness data to inform accountable, high-quality patient care and fuel unparalleled business insight – all the while improving an organization’s fiscal performance.” But it’s more than just the data. There is also huge value in integrating, cleansing, enriching, and mastering your data and after that, using it to inform business decisions.
The most important thing that I learned from the above is that if you have strategic alignment of improvement efforts and goals it is critical for everyone in your organization to be able to view your progress.
In order for that to happen, you’ll want to integrate your benchmarks, which is essential for employees to see how their organization ranks against their peers. Target the top priorities and once accomplished, move onto the next set to continue to improve. Nominate a team of colleagues to review all the benchmarks against published goals and release their findings to senior management. The team members should also be empowered to reach out to key leadership if they need to augment the activities attached to a specific area.
Predictive analytics can be helpful to any healthcare organization that is trying to optimize their activities. It assists your organization in being aggressively efficient and effective. Some areas where predictive analytics help are staffing, admissions, readmissions, fraud prevention, supply chain, and denials of coverage.
Moving forward, it’s important to remember that the data you use for analytical purposes will work optimally if it is cleansed and standardized. Once you have that in hand, taking advantage of benchmarked data and continuous monitoring will help your healthcare organization make sustainable organizational improvements.
If you need help, you can create and manage all of this successfully with , a complete and unified healthcare and data management platform brought to you by Information Builders. Once the platform is implemented, healthcare organizations will find an easier way to execute benchmarking, performance improvement, and monitoring.