MIS ANALYTICS & REPORTING
KPIS: PROVIDING INSIGHTS ACROSS THE REVENUE CYCLE CHAIN
CFOs and operational leaders must also be able to get a clear view of the health of the revenue cycle. Most analytics tools can address specific functional needs but are not able to provide an integrated, full-picture view of the revenue cycle.
Defining a metrics-based ecosystem to measure the performance at an individual functional level and a macro level is an important next step.
VISUALIZATION: THE KEY TO MAKING INFORMED DECISIONS
Data visualization tools and reports are a key element of any analytics solution worth your money. A well-visualized dashboard can quickly draw the attention of decision-makers to the facts and enable them to make well-informed decisions.
BENCHMARKING AND GOAL SETTING
Once you have visualized the data, you must define process-specific standards for performance. By benchmarking, you get a good understanding of the prevalent performance standards compared to the peers in the industry. Set Goals for specific functional areas such as accounts receivable, patient access, denial management, and other financial and quality parameters.
FROM ANALYTICS TO ACTION
By combining intelligent workflow systems with analytics, you can auto-create work queues to drive focus on some of the most critical issues in your revenue cycle. This change can reduce the manual effort in creating work queues and improve revenue cycle outcomes significantly
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