Growing Expectations, Unexpected Costs and a Public Desire to Pay Less are Standing in Your Way of Success
The bottom line is that the healthcare business that you once knew has changed in the last few years. The changes are great for some and terrible for others. Besides logistics, the public’s expectations are now different – they want more, but they aren’t always willing to pay for it. Coupled with the long revenue cycles often found in the healthcare industry, cost savings is top of mind for many CEOs. This complexity doesn’t have to impact your healthcare business for the worse, this is your opportunity to glean insight from your data and make factual data-backed decisions and forecast trends.
Well Thought-Out Data Solutions are the Key to Success in Healthcare Business Intelligence
“Everyone jokes about how we haven’t uncovered any issues in the project thus far. And it’s such a large project so you would think something would come up. That just speaks about all the work and planning WCI did at the beginning.” – VP of IT
Since healthcare contains some of the most complex data of any industry, it is paramount that the data created be used in a way that can be interpreted and not just stored. With WCI’s 16 years of experience with data analytics and data warehousing you can rest assured that we know how to properly roadmap and strategize in a way that’s consistent with your business goals. Most importantly, since WCI deals with a number of different tool sets we guarantee not to provide a one-for-all solution, but one that’s tailored to your healthcare business. Healthcare Business Intelligence Consulting from WCI WCI works with healthcare organizations like yours to reduce ineffective systems and help you structure your data analytics plans. Healthcare business intelligence and data warehousing will help your business with:
- Data Organization: Track clinical, operational and insurance data (patient history, supply inventory, vendor invoices, admissions data)
- Cost Reduction: Identify which admin costs can be downsized
- Trend Forecasting: Discover new revenue opportunities
- Improved Vendor Relations: Optimize the supply chain costs by monitoring stock and inventory in real time
- Increased Effectiveness: Determine which treatments are cost effective and which ones are inefficient
- Enhanced Patient Care: Decrease wait times by synchronizing resources
- Consolidating diagnostic information: Improve patient safety by having access to all of the information when it is needed and in one place
- Ensure Regulatory Compliance: Be able to identify problem areas when it comes to compliance to nullify possible problems
- Improve Resource Planning: Including shift schedules, vacation and sick days
- Reduce Overhead Costs: Forecast stocking levels according to previous demand
- Increased Security: Find ways to simplify identifying fraud
Discover how we created a data warehouse and amalgamated 42 different ERP systems for a world wide leader in the fluid motions industry. Read the Case Study
With insight into your business though data analytics you can determine what is the most profitable route to take when it comes to patient care. After the big data push to get Electronic Health Records (EHR) in place, the next focus in healthcare data is to direct efforts to advancing analytics. Don’t get caught behind while your competitors navigate healthcare business intelligence with ease!
One of the biggest flaws in healthcare business intelligence is the use of a poorly developed BI strategy. Merely having access to a few dashboards that display some data isn’t going to give you true insight. A proper roadmap with key performance indicators (KPIs) that are relevant and focused on the healthcare industry will ensure that you’re keeping tabs on all of the right information.
Contact us today to book a discovery session to discuss your healthcare business intelligence goals.