MyAnalytics helps private duty organizations level the playing field
When MatrixCare released its MyAnalytics solution, Casey Lindsay, Director of Administration at ACCfamily, got his wish.
With near-real-time data updates, customizable reports and dashboards, and access to data on a mobile app, MyAnalytics makes it easy to monitor key business areas and make informed business decisions.
“Now I can see the seasonal ups and downs of gross revenue, and I can see numbers on both a micro and a macro scale,” he said. “All the data is transparent and there’s no room for manipulation.”
Lindsay has also been impressed with the payroll functions within MyAnalytics. “Payroll allows us to categorize information based on the types of services we’re billing out, and also on what we’re paying staff to provide those services. It shows the gross profit margin and breaks down billing by invoice date and service date. This lets us see which months were our biggest for invoicing versus the actual service date,” he said.
Not only that, but being able to quickly and accurately view overtime reports has led to significant cost savings. “For example,” Lindsay said, “we can break down overtime by employee and compare that with revenue and net profit data. We might see that net profit went down even though we had a spike in revenue. Why is that? I can say, well, let’s look at overtime. These caregivers are working more hours and we may need to reduce the amount of overtime so it doesn’t impact our margins as significantly.”
And this kind of analysis isn’t only important to his organization’s bottom line. “It can also be a risk for our caregivers or clients—the caregiver may not be as attentive if she’s working too many hours. That’s been one of the most critical reports–it breaks overtime down to a granular level.”
The importance—and power–of data
Lindsay believes the health care industry’s focus on data will only intensify in the coming years. Health networks and payers, including government agencies, will want providers to have data that demonstrates the value they provide, such as shorter hospital stays or reductions in readmissions.
He sees MyAnalytics as a tool to level the playing field by providing data in a clear, presentable way to potential partners. “Everyone thinks the big providers are better because they have access to data. That’s not always the case. MyAnalytics allows smaller players to get a foot in the door with some major health networks because they are able to say, ‘Look, here’s our data set and this is what we can do to reduce your types of readmissions and so forth. It allows us to have clear and concise access to data within our organization because everything’s going into MatrixCare. Sometimes it’s hard for organizations to pull that information out and show it to other organizations. That’s why I’m so excited about this.”
- Self-service reports use the BI toolset and MatrixCare’s analytics data model
- Dashboards can be personalized with content that’s most useful for each user
- Near-real-time data available in concise, easy-to-understand dashboards
- Report comparison capabilities led to cost savings
Experience the power of MyAnalytics data today.
Disclaimer: results may vary based on a number of different factors per facility.