How Hospitals Can Better Manage Revenue Cycle in a Value-Based World

medical statistics and graphic charts with stethoscope, revenue cycle

From 1990 to 2007, the U.S. government increased healthcare spending by about $1 trillion. The problem with this statistic is that once figures reach thirteen digits they begin to sound like monopoly dollars. To put it another way, this 18-year period saw an annual growth rate of 7.3% in healthcare spending, which is more than double the 3% annual growth in real GDP.

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Value-based care has emerged as one way to try and combat the rapid growth in healthcare spending. While the emphasis on quality holds promise for patient care, it has created financial challenges for hospitals. Let’s examine the impact it has had on the revenue cycle. (more…)

Customer Spotlight: Salinas Valley Memorial Healthcare System

Salinas Valley Memorial Healthcare SystemOver the five years I’ve worked at Dimensional Insight, I’ve met several of our customers either in person at one of our user events or over the phone as I’ve talked to them about customer success stories. It’s only recently that I’ve started to go out on the road to meet our customers where they work – and this has provided me with a whole new perspective as I write our user stories.

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I visited Salinas Valley Memorial Healthcare System (SVMHS) on a sunny California day in January (the perfect respite from what was then brutally cold Boston!) to talk to Audrey Parks, CIO, and Tim France, programmer. What followed was a great conversation about the challenges the health system faces, where healthcare is going, and how Diver can help the organization get there. Here are some highlights. (more…)

Congratulations to our Most Wired Customers

Congratulations to Dimensional Insight customers who were named the Most WiredHospitals & Health Networks (H&HN) magazine recently announced its 19th annual Most Wired survey honorees, and I’m happy to report that several of our customers made the list! Congratulations to our 20 healthcare customers that were honored.

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The annual Most Wired survey measures the level of IT adoption within hospitals and health systems. In addition to providing a list of hospitals and health systems that meet the criteria, H&HN also provides some interesting data with the survey. Here are a couple of points that stood out. (more…)

3 Healthcare Challenges and How Analytics Can Help

Healthcare is inarguably facing some of the most daunting challenges today, with the potential repeal of the Affordable Care Act (ACA), the uncertainty of the American Health Care Act (AHCA), numerous other regulations with which providers must comply, new payment models, and much more.

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At our recent Dimensional Insight Users Conference (DIUC17), Julie Beard from KLAS Research spoke at a couple of our breakout sessions about some of the biggest healthcare challenges providers indicate they are facing today and where the industry is headed. (more…)

How Healthcare is Responding to the AHCA and Value-Based Initiatives

The American Health Care Act (AHCA) is on the minds of many healthcare professionals since the bill passed in the U.S. House and since the Congressional Budget Office recently released its score on it. As a result, the implications of the bill were front and center at the ACHE of Massachusetts Spring Conference, held on May 25th at the Sheraton Framingham.

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In addition to the AHCA, the half-day conference also focused on how leaders are adjusting to the “new reality” of other aspects of healthcare. These aspects included new forms of reimbursement, a focus on quality, and how hospitals survive in a world of both consolidation and fragmentation. (more…)

Why the Time for Healthcare Analytics Adoption Is Now

Our previous blog posts on value-based care focused on the need for healthcare analytics, and gave examples of how some hospitals are using analytics with great success. It is clear from those examples that the changing landscape means now is the right time for healthcare organizations to use analytics to give greater insights into their data and make better decisions that improve outcomes. This will be critical to succeed in the value-based world.

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But in order to make that change, you need to decide on the right healthcare analytics solution. Here are 3 things your solution must have so your organization can gain the right level of insights. (more…)

How Hospitals are Using Analytics to Drive Improvements in a Value-Based World

In our previous blog posts on value-based care, we talked about the increasing need for analytics to help organizations keep up with the changing healthcare landscape. In theory, a business intelligence solution can help hospitals make better decisions while improving clinical and operational outcomes, which is critical in a value-based world.

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But what about in practice? How does it actually look when a healthcare organization uses a business intelligence solution to drive improvements? In this blog post we’ll look at specific examples of hospitals using analytics in successful ways…and allow you to hear from some of the users themselves. (more…)

How Analytics Can Help in a Value-Based World

In our previous two blog posts on value-based care, we looked at the new value-based landscape and the key areas you need to focus on in order to reduce spending and improve margins within that framework. In order to do those things successfully, you need the right healthcare analytics.

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Any strategy for prevailing in the value-based world will require a multi-pronged approach, but business intelligence and analytics can help provide the insight you need to make more informed decisions that will ultimately reduce care costs and improve patient outcomes. In this blog post, we are going to examine three ways in which analytics can help address challenges. (more…)

What Organizations Need to Survive in a Value-Based World

value-based worldIn our previous blog post on value-based care, we examined the new value-based landscape. We also looked at some of the most common new reimbursement models. In this post, we will take a look at the new realities of survival.

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Fact is, the old ways of providing healthcare – in a pay-for-service world – no longer cut it. In order to survive, your organization will need to focus on 5 key areas that will enable you to reduce spending and improve margins. Learn more in our graphic and then read about each area in more detail. (more…)

Navigating the World of Value-Based Care with Analytics

It’s no secret that healthcare costs are quickly rising. In fact, the U.S. currently spends about $10,000 per person on healthcare. Value-based care programs have emerged as a new form of reimbursement that ties care delivery payments to the quality of care provided, while also rewarding providers for efficiency and effectiveness.

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As these new reimbursement models roll out, healthcare organizations must understand the different programs’ requirements and what will be expected of them moving forward. In this blog post, we’ll examine some of the common value-based care programs that are impacting providers. (more…)