Healthcare Optimization

Financial and Operations Benchmarking

A better way to assess your organization's performance relative to peers, to budget, and to strategic objectives

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The Challenge

Multiple information systems, multiple departments, and multiple benchmarking sources each produce their own sets of reports and there is not a way to combine all these into a cohesive view.

The VizMetrics solution

a single, unified view of trends and benchmarks for every financial and operational area.

Sample Metrics
  -   CapEx trends
  -   Revenue, margin
  -   Flow metrics such as ALOS
  -   Volume metrics by DRG or procedure
  -   Payer Mix overview
  -   Market share trends
Results
  -   identify "low hanging fruit" more quickly by finding areas which represent the best opportunities for improvement
  -   identify unfavorable trends quickly
  -   uncover causal relationships between key performance indicators
Payer Mix Optimization

A better way to spot unfavorable payer and service line trends quickly.

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The Challenge

Small changes in payer mix and service line utilization can have large impact on the bottom line. Some service lines are over-consumed unnecessarily by certain payer classes resulting in financial underperformance.

The VizMetrics solution

A single, unified view of trends and margins within every financial status class and service line

Sample Metrics
  -   discounts trends, revenue and margin for every payer class
  -   contract negotiation schedule
  -   service line utilization and trends by payer type, with color coding for over
  -   or underconsumption by payer types
  -   revenue by contract type
Results
  -   identify and reduce unfavorable payer discount trends
  -   increase revenue from higher margin payers
  -   increase revenue from higher margin services
  -   increase margin by shifting contracts to more favorable contract types
Multi-Facility Comparison

A better way to improve performance across multiple locations or departments using a head-to-head comparison

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The Challenge

It takes many pages and many minutes to assess and compare the performance of each department or location. It is difficult to rapidly identify leaders and laggards and share best practices quickly.

The VizMetrics solution

A single, unified view of key metrics for every department and location, allowing a head-to-head comparison

Sample Metrics
  -   revenue and margin for each location
  -   volume and productivity measures
  -   patient satisfaction
  -   staffing with target levels
Results
  -   rapid identification of leaders and improvement opportunities
  -   ability to share best practices quickly between locations or department s
  -   faster report preparation and easier sharing of results
Patient Flow Improvement

A better way to identify bottlenecks in admitting and discharging.

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The Challenge

Emergency Departments struggle to meet peak demand while inpatient units cannot always place patients in beds quickly. This results in overflow situations, patient dissatisfaction, lost revenue, and lower quality of care.

The VizMetrics solution

A single, unified view of the patient flow process.

Sample Metrics
  -   patient wait times, by process step
  -   bottlenecks areas
  -   metrics for Emergency Department optimization
  -   patients who leave without being seen (by day, by time)
Results
  -   increase patient satisfaction and quality of service
  -   optimize staff utilization and reduce overall cost
  -   increase revenue through higher resource utilization
  -   reduce lost revenue due to patients who leave without being seen
  -   reduce patient wait times for Emergency Department services and hospital beds
Staffing Effectiveness

A better way to reduce overtime and agency staff costs

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The Challenge

Service-intensive organizations face increasing staff costs, especially in overtime and agency hours, and need to allocate staff effectively while still improving quality.

The VizMetrics solution

A single, unified view of key staffing metrics for every department or business unit.

Sample Metrics
  -   staffing cost trends
  -   overtime and agency utilization trends, with target levels
  -   key staffing-related quality indicators
  -   skill levels and staff allocation ratios
Results
  -   reduced cost from improved staff utilization
  -   reduced overtime and agency costs
  -   improved service quality