Many healthcare organizations today still use spreadsheets as their primary vehicle for planning and budgeting. These systems create islands of financial and planning data, where everyone works independently. A solution that replaces a fragmented process with continuous, collaborative planning that supports improved quality of care and delivers up-to-date insight into operational performance is vital to success.
Business analytics for healthcare enables organizations to achieve greater efficiency within their operations; collaborate to improve outcomes; and integrate with new partners for a more sustainable, personalized and patient-centric system focused on value.
- Improve clinical decision-making by getting easy to interpret financial information into the hands of nonfinancial minded people
- Reduce operating costs and perform dynamic budgeting and forecasting
- Reduce patient wait times and processing costs
- Increase doctor and patient collaboration, recovery tracking and patient alert systems
- Improve hospital diagnosis time and treatment pattern analysis
- Speed claims process to avoid fraudulent payments
- Facilitate and secure the exchange of information among care providers
- Reducing The Dependence On Spreadsheets
- Create A Single Source Of Truth
- Increased Speed For Proactive Decision Making
- Simplify The Data For Those Without Finance Backgrounds
Healthcare Client Highlight:
St. Luke’s Health Care System managers discuss the business analytics improvements they’ve achieved since working with eCapital Advisors to implement TM1. St. Luke’s Health Care System users can now access the details they need without seeking the Finance Department’s help.