Thursday, April 11, 2013
This Is A Useful Summary Of Where Analytics May Help To Make A Difference.
This appeared a little while ago.
By Kelsey Brimmer, Associate Editor, Healthcare Finance News
When it comes to healthcare analytics, hospitals and health systems can benefit most from the information if they move towards understanding the analytic discoveries, rather than just focusing on the straight facts.
George Zachariah, a consultant at Dynamics Research Corporation in Andover, Mass., explains the top five ways hospital systems can better use health analytics in order to get the most out of the information.
1. Use analytics to help cut down on administrative costs.
“To reduce administrative costs – it’s really one of the biggest challenges we face in the industry,” said Zachariah. “One-fourth of all healthcare budget expenses are going to administrative costs, and that is not a surprise because you need human resources in order to perform.”
Zachariah suggests that hospital systems begin to better utilize and exchange the information they already have by making sure their medical codes are properly used, and thus, the correct reimbursements are received.
“Right now, with electronic medical records, you can see that automated coding can significantly enhance how we can turn healthcare encounters into cash flow by decreasing administrative costs,” he said.
2. Use analytics for clinical decision support.
Zachariah said that having all medical tests, lab reports and prescribed medications for patients on one electronic dashboard can significantly improve the way clinicians make decisions about their patients – while at the same time cutting costs for the organization.
“If all the important information is on one electronic dashboard, clinicians can easily see what needs to get done for a patient, and what has already been done. They can then make clinical decisions right on the spot,” he said. “In addition, clinicians will not be double-prescribing patients certain medications due to the lack of information they have on the patient.”
Read the other three here:
This is a very useful summary of where analytics fit. Well worth a read.
Posted by Dr David More MB PhD FACHI at Thursday, April 11, 2013