In the face of today’s ever-changing health care environment, many health care organizations are faced with the challenge of pinpointing areas of opportunity pertaining to both the cost and quality of physician services. The transition to value-based care is not an easy task but with data-driven insight, physicians will have the power to make improvements in growth, efficiency and effectiveness to deliver top-level care.
nThrive Analytics delivers the solutions health systems and physicians need to face the rising costs associated with the rising cost of health care. Our physician economics solutions include:
Delivers comprehensive reporting and access to key productivity, physician cost, revenue cycle and practice financial data at every level of the organization.
A10 Physician Performance
Identifies the biggest revenue and cost opportunities within a physician practice across the 10 economic drivers of productivity, visit coding, rates, payer mix, revenue cycle, charge master, utilization, compensation, costs, and labor costs.
Knowledge is Power
The famous proverb “knowledge is power” was first quoted by Sir Francis Bacon. Meaning, knowledge is the factor that empowers people to achieve great results. To put this into perspective, in order for a physician to aspire to improve performance, they need to understand where they stand and where the opportunities lie for improvement. The more knowledge a person gains, the more control they have over their performance. Even big problems can be solved when we are provided with the knowledge for solving the problem.
Technology Stimulates Knowledge
Health systems must be willing to invest in technology to provide physicians with the knowledge they need to enhance the quality and efficiency of the care they provide. Health systems have access to large amounts of data including information from EHRs, general ledger, health information exchanges, along with other data sources. The insights that are hidden inside the data can provide insights into patient management, clinical best practices, financial gaps, and population health. Gaining this insight is increasingly vital as the industry transitions to value-based care.
As a result of new reimbursement models that reward physicians for achieving improvements in care, it is no surprise data analytics has become an increasingly popular trend in health care. Health systems and physicians are looking to resources that quantify their own performance as well as that of their peers.
Although health care organizations see the need for technology, recent surveys suggest physicians are wary of the data they receive and aren’t able to trust its accuracy. To address these concerns, health systems must put in place technology that provides physicians with comprehensive access to their data as well as the appropriate level of detail. nThrive Analytics solutions deliver the accurate, comprehensive access to physician data required.
Engage Physicians with Data
The nThrive Analytics solutions deliver seamless access to data through various analytic mediums. Health care providers can choose from dashboard, Web Excel and Web Sequel views – the level of detail is up to the user. Our solutions convert health care system data into actionable insights, providing users with ability to easily identify shortcomings and develop future strategies leading to enhanced efficiency, profitability, patient care and loyalty.
With the right analytics tools, health systems can connect with its physicians to provide them with real-time access to their data to deliver the actionable insights needed to progress performance throughout their practice. Only through physician engagement in data analytics will organizations reach their goal of delivering high-quality care while reducing costs and increasing efficiency.