Many HCO’s have not achieved the promise of their investments in advanced analytics.
Analysis of existing data sources can give valuable insight into operations.
In a survey conducted by Health Catalyst, 83 percent of HCO leaders were hopeful that data analytics could help to substantially enhance their operations. The same respondents also shared that they had yet to get the most from the data that they had accumulated. With a mere 5 percent of the responding organizations reporting that they had succeeded at conducting what they considered “advanced analytics,” the survey reveals that most HCOs still haven’t been able to convert their data into the asset they need it to be.
HCO Maturity in the Use of Analytics
HCOs historically have invested vast resources into systems that specialize in clinical data collection, but have found the complexity of the data to be overwhelming when it comes to making it analytics-ready. These data systems support medical directors in recording and tracking patient details, including diagnoses, demography, and billing information.
Beyond managing health issues in their departments and populations, emergency department (ED) directors are also increasingly saddled with the need to resolve data discrepancies, address patient complaints, and identify possible opportunities to reduce costs. A pressing need to produce actionable conclusions from their data may be an indication of an HCO’s readiness to seek out data analytics support.
Data Analytics Support Makes Raw Data Actionable
One good example of how data analytics can be helpful is found in the epidemic of opioid addiction sweeping the United States. In light of the crisis, EDs nationwide have been forced into rapid and significant adjustments to care, including unplanned and expensive hospital expansions, as well as an increase in the engagement of on-site social workers.
Increased attention is being devoted to alternative treatment methods for pain control, as well as a more holistic understanding of how physicians may be contributing to risk factors through their practice habits. HCO leaders are seeking to identify possible options for risk factor prevention by assessing the trends of pain medication prescriptions by their doctors.
Collecting data comes first, but how can mountains of data help HCO leaders deal with these and other challenges? Data becomes actionable through the integration of disparate data from multiple sources. d2i integrates clinical data, billing, scheduling, patient satisfaction surveys, and more. With comprehensive data and an easy-to-use graphic interface, users not only see high-level trends and metrics but also can identify root causes that lead to actionable insights for performance improvement.
Embracing Data Analytics
HCOs want more advanced analytics solutions and often will initially attempt to do this with internal resources. Take the case of Stony Brook University Hospital (SBUH) of Long Island, New York, a large academic medical center with 98,000 annual ED visits. After waiting a year for an analytics solution, SBUH’s Emergency Department contracted with d2i. The result – d2i delivered a customized performance dashboard and analytics suite within a few weeks of receiving the hospital’s data.
With the help of our performance dashboard, SBUH achieved a 25% increase in RVUs within the first year and improved net income as a result. Leadership now has more confidence in data and a wider understanding of their overall operations.
Is your HCO ready to take advantage of the valuable data locked away in your source systems? d2i’s cloud-based advanced analytics solutions aggregate, normalize, and enrich that data, allowing your organization to optimize operational efficiency and quality of care. Contact us for more information about how we can help you or to schedule a 30-minute demo.