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Why are insightful analytics more critical now than ever?

Understanding your data is essential to understanding how your facility is performing from an operational, financial, and population health standpoint. In addition, as payment models move from fee-for-service to value based care, it’s critical to understand and control your outcomes. Fee-for-service set pricing for years, but value-based care makes analytics imperative. Payment models rewarding outcome-driven quality and cost control require data. 

How can SHP be of help?

For most healthcare players, building internal analytics teams doesn’t happen overnight …or ever. Shortages of talent, inadequate tools and lack of executive buy-in stall progress. Our team of analysts can help you turn data from your Electronic Medical Record (EMR) system and other channels into actionable insight. Once we determine where improvement opportunities lie, we can help you navigate how to implement changes that can lead to an improved patient experience and improved bottom line.

In addition, we offer an enhanced analytics service called Performance Analytics. As a Performance Analytics client, you’ll receive access to our team of analysts that will run additional customized reports that help you dive deeper than what your current EMR system will allow in an efficient manner.. This data can help you easily spot operational, determine where issues lie, and have the information you need to quickly adapt to the ever changing healthcare reimbursement and legislative landscape. In particular, if you’re prepared for the transition to value based healthcare.

A list of commonly requested reports are below and our team can work with you to customize a report that fits your needs.

Financial Reporting

  • Collections and A/R: This report keep an eye on the continued performance and effectiveness of the collections department. Our matched A/R reports and trending metrics including “A/R”, “Percentage of A/R over 90” and “Credit Balances”. All of which come complete with filtering capabilities and drill down to detailed patient listings.
  • Practice Health Monitoring: Trend and track your practice’s financials across the board in relation to internal goals. Watch for major changes in charge volume or reimbursement compared to a stable payer like Medicare. You want to be aware if things need to be addressed without having to wait for your month end reports.
  • Revenue Opportunities: This tool provides you with a way to quantify “What If” scenarios and their potential effects on revenues allowing you to focus your attention on the most impactful initiatives including shifts in E&M coding levels, improvements to claim lag times, increases in patient volumes or ancillary services and adding new physicians or practice locations.
  • In addition, we provide: Chargemaster Review, Underpayment Analysis, Contract Impact Analysis, New Contract Analysis, Proforma, and IPA Analysis.

Contact us to learn more and receive a quote.

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