Problem: Are you ready for value based payments? We are pretty sure the payers are. It’s just not their responsibility to be sure that you can report on their requirements for full payments. But there is much more at stake. Hospitals aggregate data into transactional system silos but they require transparency in financial, clinical, operational and patient data across their organization to make critical decisions about profitability, care and organizational improvement. Disconnected systems leave you and your staff vulnerable. Without an easy understanding of the data relationships, which are now hidden within disparate source systems, decision making is stymied. Are your users empowered with self-service tools that allow them to dig into the data they need to be effective in their roles? How easily can you drill down on costs and revenue drivers? Data is not easily visualized in order to be intuitively translated into actionable knowledge.
Solution: Aculyst provides a centralized data repository (data-warehouse) and ETL, which allows your finance staff and service line managers to strategically access and interact with data. By creating a central source of truth, decision makers are empowered to take meaningful action and thus accountability and awareness expands throughout your enterprise. What’s more, financial, accounting as well as service line managers get information in time to intervene and take action against variances and cost over runs while engaging in performance improvement initiatives.
Result: Data is money. Aculyst delivers clarity into your profitability assessments by easily showing the drivers of margins by connecting your disparate financial, operational, quality and labor data. Constant awareness of the eroding factors on case contribution margins, staff productivity and resource utilization are instantly recognized and corrected. Using a balanced scorecard approach offers ubiquitous access to the core metrics which can empower executives and service line managers with intuition in relating data sets to one another because they are easily recognizable, rather than camouflaged within the sprawling digits of a spreadsheet. This integrity gives life to the data as managers interact with it- asking questions and getting immediate answers. Drill down capabilities elucidates the root influences on operational bottlenecks, labor choices, supply costs, and ED and OR throughput, which all have financial implications. The result is easily informed decisions that lead to profitability and high performance..