Understanding the most relevant data points to track for success can seem daunting, but it can bring immense value to your organization. In fact, data allows you to make decisions in real-time to protect your revenue.
When you break the data down, look at relevant KPIs that are integral for your financial, operational, and clinical success. Your analytics solution should deliver insights to enable fast and informed decision-making, should transform and be customized to share with colleagues, and show identifiable patterns and trends.
Here are key features you should consider for analytics:
Identifying key referral sources to tracking referral conversation percentages and understanding referral trends are all key components to understand where business is coming from. Have KPIs that easily identify these is key.
An organization’s payor mix can have a significant impact on how business is conducted — as does discharge reasons and a patient’s length of stay. Insight into these areas can assist organizations in the strategic strategies in their delivery of care.
Unbilled revenue directly impacts an organization’s cash flow and can impact the bottom line if not billed timely. Analytics can provide insight into why services have not been billed — allowing organizations to make corrections. With tighter billing timelines it is important to track outstanding AR before it reaches the point of not being able to be recovered.
Understanding how industry trends are important and that organizations are on top of their quality outcomes. These outcomes are publicly available and directly impact an organization’s referrals. Being able to review these on a daily, weekly, monthly basis allow organizations to make adjustments before an issue can have a lasting impact.
With your needs in mind, you get to choose between MyAnalytics Viewer, MyAnalytics or MyData. No matter what you choose to meet your needs, you can expect:
- Prebuilt visualizations and reports that span the key areas of your business – from census and financial accounts receivable to readmissions and quality measures (where applicable)
- Market-leading business intelligence “app” built on Microsoft® Azure and Power BI
- Self-service report-writing options using Microsoft® Power BI with our tabular data mode
Flexibility and customization for your needs is key. We offer actionable data and information for you to get the information you need when you need it, saving you both time and money.
We never stop working on your behalf — constantly updating and integrating data models, tables, reports, measures, and features — all of which mean the most to you. MatrixCare’s powerful analytics solution is built using Microsoft® Azure and Power BI technology to deliver insights that can enable fast and informed decision-making.