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 under performance. 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 of care. 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.
With Service Line Analyzer, you can customize your service lines to easy to determine whether a product line has profitability potential or whether it should be eliminated. The flexibility in customization allows you to incorporate you own service line definitions into your analysis which leads to more effective strategic planning.
“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. Equation is providing the tools to make this need a reality.”
– Kyle Kobe, Equation Principal
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 health care organizations position themselves for the greatest possible growth, both financially and clinically, as they move towards a value-based model.