Session preview: Analytics helps drive healthcare management performance
Economic pressures, regulatory compliance and greater consumer demand and competition are accelerating the trend of hospitals deploying business intelligence solutions to make more effective executive decisions.
“Leveraging Interactive Analytics for Improving Healthcare Management Efficiency,” which takes place at 3:30 p.m. CST Wednesday, looks at best practices for achieving efficient healthcare management.
In the past, healthcare management from a back-office perspective has relied on historical knowledge rather than information-driven administrative management, said co-presenter Chip Jackson, senior director at Oracle.
“We’re now seeing hospitals want better ways to leverage their historical experience to manage executive decisions,” he said. “They’re looking at a broader set of benchmarks, dashboards and key performance indicators to get more effective direction.”
Hospitals are moving away from Excel spreadsheets and scorecards to a broader adoption of analytics tools, he said.
“As organizations start to establish models to deliver accountable care, it’s going to be important to establish goals and standards to promote high-quality, service-focused patient care with operational and financial stability,” Jackson said. “In order to have improved accountability and transparency, you must establish metrics for performance.”
Organizations that align their strategic vision and strategy from the executive level to staff level and vice versa are generally more successful in the marketplace, he said.
Suzanne Lestina, director of revenue cycle-MAP for the Healthcare Financial Management Association, will co-present. HFMA established the MAP award in 2009 to recognize excellence in revenue cycle performance. The acronym stands for “Measure performance, Apply evidence-based strategies for improvement, Perform to the highest standards in today’s challenging healthcare environment.”
“This award is the first recognition of how vitally important it is to have consistent standards and metrics for performance,” Jackson said.
