Why is a specific payer showing a downward trend in revenue?
How does the average hospital length of stay for a specific attending physician affect a service line’s bottom line?
Does a specific product line have profitability potential or should it be eliminated?
Many hospitals are acquiring medical practices and are either employing or contracting with physicians as part of their alignment strategy. Yet more often than not, there remains a large gap between alignment and integration leading to significant financial loss and underperformance. Hospital service line managers and administrators need to be able to organize their service line data effectively so it can be understood, analyzed, and managed.
nThrive Analytics Service Line Analyzer enables you to drill down into consolidated inpatient & outpatient, and physician practice data to pull out specific insights within your service lines across departments and the continuum. These insights will lead to improvements in quality and productivity within your service lines.
Create Your Own Service Line View
Service Line Analyzer allows you to view service line profitability by patient type, financial class, inpatient & outpatient service, physician, physician role, location, DRG, and sub-service lines. Additionally, data can be sorted by multiple service line definitions in order to compare differences and outcomes based on the modifications made to base service line definitions. Thus, providing the ability to understand and analyze clinical integration efforts across practices.
Service Line Analyzer organizes hospital and physician practice data into an intuitive format that offers acuity-adjusted data and performance comparisons placed in a statistical context. As a result, those who manage service lines are empowered to achieve improvements in quality and productivity as well as make strategic decisions regarding costs and revenue on a per service line basis.
Its flexibility also allows for customizations to the service lines. Service line customization allows for more effective strategic planning and assist in determining whether a product line has profitability potential or whether it should be eliminated.
“Hospitals and physicians need to work in tandem in order to decrease practice inconsistencies and ensure adherence to standards of care while increasing service line profitability. We provide the tools to make this need a reality.”
– Kyle Kobe, VP Consulting/Analytics, nThrive
Learn to See Your Data Differently
Service Line Analyzer can help you assess whether an investment in a service line, such as additional providers or marketing, will yield adequate revenue for a return on the investment. Service Line Analyzer also allows for assessment of changes in payer mix on revenue. Furthermore, it incorporates direct and indirect costing methods.
Service Line Analyzer can help you improve efficiencies by focusing on a particular service line to highlight various operations associated with that particular area of endeavor. It helps reveal the waste and inefficiencies that may have previously gone undetected. It helps healthcare organizations position themselves for the greatest possible growth, both financially and clinically, as they move towards a value-based model.