To have insight into diagnostic business decisions and improve patient outcomes, healthcare executives must have access and visibility to data in order to precisely measure results and compare them to internal goals and industry benchmarks.
Revenue cycle management (RCM) leaders, in particular, need better access to operational and financial data to make both strategic and tactical decisions regularly. However, the data needs of each department (e.g., finance, billing, operations) typically vary, as do the timeframes and types of data depending on the decision making. RCM data is complex, and this can make analysis challenging. That’s why XIFIN developed several advanced analytics and visualization packages, in addition to its business intelligence (BI) and reporting capabilities.
XIFIN Advanced Analytics allows access to and analysis of even the most complex diagnostic financial data. The solution is cloud-based and designed to handle the unique financial nuances of healthcare reimbursement. Healthcare data, particularly diagnostic and billing data, is incredibly complex, and the XIFIN Advanced Analytics data models are specifically designed for this environment.
XIFIN offers four advanced analytics packages: Essentials, Executive, Enterprise and Expert. Regardless of the Advanced Analytics package you choose, they are all accessible from a simple list-based menu where users can:
In our first blog post of this series, we discussed the XIFIN Business Intelligence Advanced Analytics Essentials, which offers weekly operational and productivity information at-a-glance in this series of four. The Advanced Analytics Executive solution offers a deeper dive into consultative visualizations and analytics.
XIFIN BI Executive ― Beyond Spreadsheets
XIFIN BI Executive features Tableau®-driven “pull and present” dashboards and key performance indicators (KPIs), with numerous drop-down menus and filtering options, eliminating the need to pull separate reports to compile for presentations. This allows management to identify what is driving the business.
Executive Advanced Analytics: Question and Answer Storyboard Format
The Executive-level guided analytics are presented in a storyboard question and answer format with “pull and present” graphs. Pre-set visualizations can be easily modified using numerous drop-down menus or filtering options. For example, one visualization might answer the question, “Which users are best at fixing which errors?”
Spotlight on Productivity Analytics for Exception Processing
Productivity analysis for exception processing identifies staff members who are handling exception or error processing and are performing (or underperforming) on specific, actionable error codes. The visualization can be modified by selecting an error group. The visualization provides a breakdown of the work completed by error code and how the corrections impacted reimbursement rates across volume and sales measures. Users can also see a table that displays all staff members. When a user clicks on an individual staff member, the visualization automatically updates with details about their specific performance of staff member.
Gain the Financial Insight Required to Maximize Reimbursements
Diagnostic organizations face many financial and operational challenges, including tightening reimbursements, competitive pressures, and regulatory mandates. To thrive, laboratories need trusted, accurate financial data visibility that delivers actionable insights and tracks key trends and statistics.
Laboratories, pathology groups, and medical device providers also need fully-auditable information built upon a system with financial integrity. XIFIN has applied its healthcare financial management expertise to design models that make sense and yield meaningful results. XIFIN data models are based on a financial foundation that is both GAAP and Sarbanes-Oxley compliant and conforms to FASB reporting requirements; you can be confident in the quality of the information and insights conveyed.
Speed is critical to efficient business processes, and access to advanced analytics information needs to be readily available without impacting production system performance. Built to deliver business intelligence and advanced analytics through a robust, scalable data warehouse there is no need to rely on often slow and inefficient production system reporting. XIFIN’s Advanced Analytics packages are designed to grant access to insights that make it possible to transform the way organizations think about and operate diagnostic businesses.
We invite you to view a brief video so you can understand how XIFIN’s Business Intelligence Executive storyboard format can walk you through key performance indicators to gain actionable insights from your powerful RCM data. For more information on Advanced Analytics and to see a full demo, contact us.