The Value of Analytics for Your Senior Living Community
Studies show that the majority of senior living communities and long-term care providers do not have the capability to utilize all the data they have available, and many struggle to utilize the meaningful analytics that can help them understand issues with their census, or even things like revenue cycle, cost, and marketing. If you aren’t using analytics correctly, you may not be making the best decisions about how to improve your current processes, build relationships and effectively turn leads into residents.
In late June, MatrixCare announced its next-generation MatrixCare Analytics Suite, comprised of two new products: MatrixCare MyAnalytics and MatrixCare MyData. Our CRM software solution has always provided the ability to create detailed reports for your senior living community that allow you to effectively grow and manage your business. Our upgraded Analytics Suite benefits your community further, providing a base set of content you can expand to meet your organization’s specific needs. In addition, MatrixCare Analytics can now present data in a visual manner that makes it easier to identify macro trends and determine root causes that contributed to a particular trend.
How Can Long-Term Analytics Increase Census at Your Senior Living Community?
First, it’s important to determine what type of analytics are most beneficial to your community. Identify and track key performance indicators (KPIs) across clinical, financial and operational areas to understand what actions need to be taken to improve processes. By understanding what performance measures are successful, you will also know what areas need more attention.
In the future, detailed reports about where leads are coming from – whether from your website, email campaigns or even offline efforts – will allow you to properly adjust programs to ensure you’re bringing in the most qualified leads. Then, you can ensure you’re allocating budgets correctly, and utilize historical data to project future revenues and actionable goals for the sales team. This feature will be coming soon in MatrixCare’s Analytics Suite, so stay tuned!
Right now, MatrixCare MyAnalytics and MyData provide your community with the ability to build your own custom reports and view them in a robust dashboard, so you can monitor the most relevant data and trends at a glance. Use a library of available content or tailor the information to your specific needs. Plus, you’ll enjoy MatrixCare’s renowned support should you encounter any questions with the reporting software.
The bottom line? Using analytics empowers your community to run more efficiently and improve resident satisfaction – and a well-run community with happy residents leads to a longer move-in wait list. Check out MatrixCare’s recent contribution to Provider magazine to learn more ways you can improve the analytics at your organization.
Make Informed Decisions with the Analytics Suite from MatrixCare
Provide superior care, manage and grow your business with the Analytics Suite available from MatrixCare, the largest LTPAC technology provider in the industry. Use our library of content to expand your organization’s needs, or build your own custom dashboards and reports. As an added benefit, MyAnalytics integrates with the MatrixCare Senior Living Mobile KPI app, allowing you to view KPIs and make informed decisions at any location, at any time. For more information, contact us today.
Are you ready to drive better outcomes? Request a personalized demo of MatrixCare’s senior living EHR today.