XIFIN Business Intelligence and Advanced Analytics provide the revenue cycle management (RCM) operational performance metrics and test-level data exploration diagnostic executives require to thrive in today’s competitive healthcare marketplace. In response to diagnostic leader’s need for accurate visualizations of operational performance, XIFIN created a suite of four Advanced Analytics solutions. In this post we will discuss XIFIN BI expert, to learn more about the other three BI solutions read the blog posts below:
XIFIN BI Expert: Custom Data Models and Data Integration
XIFIN BI Expert option supports laboratories and other diagnostic services providers to develop and implement customized analytics tailored to their organization’s specific needs. For example, a community pathology lab has different operational analytics needs than a hospital outreach program that runs routine diagnostics. An esoteric testing lab may have specialized processes that could benefit from tailored analytics. Through the XIFIN BI offering diagnostic-specific financial metrics, such as one-off views of the data requested by the chief financial officer (CFO) or board of directors (BOD), can be developed.
The XIFIN team can be tapped for a one-time custom model development initiative or an ongoing partnership that federates diagnostic-specific data with XIFIN collaborative data to create innovative new models leveraging a more complete data view. Federating RCM data and adding automation with machine learning can effectively achieve a broader perspective on a business and compare it against other equivalent organizations. Federating data can also leverage an organization’s clinical data and operational and financial RCM information to provide analytics with an even more holistic view of performance.
XIFIN BI Expert supports these scenarios and many more. The XIFIN team of analysts and RCM experts can also consult with diagnostic leaders to identify the most appropriate and useful analytics to achieve a particular organization-specific goal or address a particular challenge. These experts can supplement any existing team of financial or business analysts on a short-term basis or for a longer-term engagement to create tailored data views or other valuable insights. This approach is often much faster than creating a brand-new data structure to meet a specific business or operational need.
Even if a diagnostic provider has its own team of analysts, working with XIFIN reduces the time an organization’s staff needs to spend collating data from multiple sources. For smaller labs, this option enables a level of analysis that may otherwise be unavailable.
The consulting capabilities offered through XIFIN BI Expert support the proactive management of diagnostic organizations. Visibility into operational metrics, weekly snapshots, key performance indicators (KPIs), analytics, and dashboards provide insight that can be used to optimize the RCM process. These types of advanced analytics allow you to make informed decisions, maximize workflow and staff productivity, and identify root cause issues affecting your balance sheet.
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