Physicians and advanced practice providers are crucial to every performance, quality, safety, care utilization and patient satisfaction goals. These factors significantly affect an organization's financial viability, which is why providers' compensation must be aligned with them.
Published By: McKesson
Published Date: Mar 09, 2016
The ripple effect of healthcare reform is beginning to impact care delivery strategies as care management now falls increasingly to providers.
According to a recent HealthLeaders Intelligence survey, hospital leaders are making progress with care management efforts, but more robust tools will be needed if hospitals want to scale up. The October 2014 survey polled 134 senior, clinical, operations, finance, marketing, and information leaders across the healthcare spectrum. The majority of respondents were from nonprofit organizations (63%), while the remainder (37%) came from for-profit settings.
Hospital communications used to be a lot simpler. If you needed to find a doctor, you could dial 0 and the operators would connect you or send a page on your behalf. People communicated through paper charts, wrote key phone numbers on grease boards, and kept on-call schedules in binders. Some of this still happens today, but communications across healthcare have become progressively more convoluted. The use of diverse mobile devices (smartphones, tablets, pagers, Wi-Fi phones, etc.), and the rise in care complexity necessitating care team coordination mean more sophisticated communication technology is required.
In response to concerns raised by healthcare leaders that the absence of adjustment for socioeconomic status (SES) and race characteristics in patient populations impedes the fair comparison of hospitals on risk-standardized 30-day unplanned readmission rates, Truven Health AnalyticsTM evaluated the extent to which risk-adjusted readmission rates for acute myocardial infarction, heart failure, and pneumonia are affected by adjustments for community-level SES factors through its Community Need Index (CNI) and patient race. The study shows there is, indeed, a statistically significant effect. For more, visit truvenhealth.com/wp/readmissionpenalties.
Some factors commonly used to explain poor operating performance do not prevent many hospitals from being highly profitable. For example, Truven Health AnalyticsTM has found that rates of uncompensated care, drug expense, and other factors do not seem to differ between unprofitable and very profitable hospitals. But factors such as Medicaid utilization rates and poor reimbursement rates do appear to impact the least profitable hospitals. One controllable factor that appears to be significant is labor productivity, with the most profitable hospitals posting the lowest labor expense per patient.
The Truven Health 15 Top Health Systems study annually identifies those health system leadership teams that have most effectively aligned outstanding performance across their organizations, and achieved more reliable outcomes in every member hospital. Truven Health Analytics measures U.S. health systems based on a balanced scorecard across a range of performance factors: care quality, patient safety, use of evidence-based medicine, operational efficiency, and customer perception of care.
The tax on high-cost health plans, which are often referred to as Cadillac plans, is expected to impact a considerable share of the plans provided by healthcare organizations for their own employees, as much as 39% by 2020. The implications are significant because the excess-benefits tax requires the employer to pay 40% on the value of the portion of the plan that exceeds thresholds set by the Patient Protection and Affordable Care Act. Employers also need to consider that the tax is measured as a direct function of plan cost, and not actuarial plan value, and that a number of factors can drive excise-tax exposure.
Truven Health Analytics™ evaluated the extent to which community need— a measure of the underlying economic and social factors that affect the overall health of a community, including income, cultural/language barriers, education, insurance and housing—is associated with elevated rates of preventable hospitalizations or an increased risk of hospitalization believed to be preventable with quality ambulatory care. The results of this investigation reveal a modest but statistically significant association between community need and an increased risk of hospitalizations that are believed to be preventable with good-quality ambulatory care.
Published By: Parallon
Published Date: Sep 16, 2015
A recent HealthLeaders Media Intelligence survey asked respondents to rank their top challenges impacting financial performance and to identify specific areas of concern within each of those issues. Their top three issues were system implementation and interoperability, recruiting and retaining talent, and reengineering the revenue cycle. On the surface, it’s tempting to think these findings aren’t surprising. Yet emerging external factors, including the cumulative effects of the HITECH Act (meaningful use), the Affordable Care Act, and an aging U.S. population, are creating new frameworks in which to view and solve these traditional problems.
Published By: Parallon
Published Date: Dec 18, 2015
Download the free, on-demand version of this webcast that took place on December 16, 2015.
Change is commonplace within the healthcare industry. Executives are faced with many of the traditional challenges of operating hospitals. Now emerging external factors like the HITECH Act (meaningful use), the Affordable Care Act and an aging U.S. population are pushing providers to change the frameworks in how they view and solve these traditional problems.
In many aspects of healthcare, we see indications of change, with movement toward new payment models and investments in infrastructure to support the delivery of value-based care. Cost control remains a top financial lever, but the discipline is becoming more complex. From a brute-force perspective, controlling cost has a direct effect on operating margin, which provides the classic move of cost control through cost cutting. Now, though, organizations need new command over cost factors themselves.
In October 2013, S&P Dow Jones Indices (S&P DJI) launched the S&P Healthcare Claims Indices (the indices). This new index series is designed to provide an independent, timely measure of the changes in healthcare expenditures and utilization for individuals enrolled in commercial health insurance plans in the United States.
S&P DJI developed these new indices in conjunction with healthcare professionals at Health Index Advisors (HIA), a joint venture between the premier actuarial and consulting firms Aon Inc. and Milliman Inc. S&P DJI combined its knowledge and experience in developing leading indices with HIA’s experience in the healthcare market to develop the first index series of its kind, based on actual healthcare claims data. These indices seek to increase transparency in the healthcare market and enable the analysis and tracking of changes in healthcare expenditures.
Published By: Precyse
Published Date: Oct 15, 2014
First it was going to be October 1, 2013, and everybody panicked. Then a reprieve came when the date was changed to October 1, 2014, now we have another extension. You may not want to breathe a sigh of relief however and start thinking that there is now plenty of time to prepare for the transition to ICD-10. Time flies by and 2015 will be here before we know it. So don’t be left wondering where all the time went.
With the maturing of the all-flash array (AFA) market, the established market leaders in this space are turning their attention to other ways to differentiate themselves from their competition besides just product functionality. Consciously designing and driving a better customer experience (CX) is a strategy being pursued by many of these vendors.This white paper defines cloud-based predictive analytics and discusses evolving storage requirements that are driving their use and takes a look at how these platforms are being used to drive incremental value for public sector organizations in the areas of performance, availability, management, recovery, and information technology (IT) infrastructure planning.
Over the past decade, businesses have made tremendous investments in information capture, storage, and analysis. But having a wealth of data isn’t the same as having valuable information. Data Virtualization products and services provide a way to turn your data stores into valuable information that improves decision-making and propels experimentation and innovation. This paper explains:
What data virtualization is and its benefits
When and when not to use data virtualization
How to deploy data virtualization to benefit your business
How to unlock the value of your SAP data
Over the past decade, businesses have made tremendous investments in information
capture, storage, and analysis. But having a wealth of data isn’t the same as having
valuable information. TIBCO®
Data Virtualization products and services provide a way
to turn your data stores into valuable information that improves decision-making and
propels experimentation and innovation. This paper explains:
•?What data virtualization is and its benefits
•?When and when not to use data virtualization
•?How to deploy data virtualization to benefit your business
The current trend in manufacturing is towards tailor-made products in smaller lots with shorter delivery times. This change may lead to frequent production modifications resulting in increased machine downtime, higher production cost, product waste—and no need to rework faulty products. To satisfy the customer demand behind this trend, manufacturers must move quickly to new production models. Quality assurance is the key area that IT must support. At the same time, the traceability of products becomes central to compliance as well as quality. Traceability can be achieved by interconnecting data sources across the factory, analyzing historical and streaming data for insights, and taking immediate action to control the entire end-to-end process. Doing so can lead to noticeable cost reductions, and gains in efficiency, process reliability, and speed of new product delivery. Additionally, analytics helps manufacturers find the best setups for machinery.
Gradient Boosting Machine (GBM) modeling is a powerful machine learning technique for advanced root cause analysis in manufacturing. It will uncover problems that would be missed by regression-based statistical modelling techniques and single tree methods, but can easily be used by analysts with no expertise in statistics and modelling to solve complex problems. It is an excellent choice for advanced equipment commonality analysis and will detect interactions between process factors (for example, machines, recipes, process dates) that are responsible for bad product. It can also be used to identify complex nonlinear relationships and interactions between product quality measurements (for example, yield, defects, field returns) and upstream measurements from the product, process, equipment, component, material, or environment.
Whether you know it as Industry 4.0, the 4th Industrial Revolution, or Smart Industry, Manufacturing is going through a deep transformation, with changes that are centered around digitalization. While most industries are already on this digitalization path, the disruption is more visible and pronounced in manufacturing because it is expanding virtual data and processes into environments that have been fundamentally about physical products. This transformation has already started, and its impact is expected to be massive. Technical, economic, and social changes are expected across the whole manufacturing ecosystem, with jobs shifting from offshoring back to nearshoring. Strong technology elements driving this digital revolution include 3D printing, robotizing and automation, smart factory with IoT and machine learning, and supply chain digitization. Their impact is profound.
The Internet of Things (IoT) didn’t just connect everything everywhere; It laid the groundwork for the next industrial revolution.
Connected devices sending data was only one achievement of the IoT—but one that helped solve the problem of data spread across countless silos that was not collected because it was too voluminous and/or too expensive to analyze.
Now, with advances in cloud computing and analytics, cheaper and more scalable factory solutions are available. This, in combination with the cost and size of sensors continuously being reduced, supplies the other achievement: the possibility for every organization to digitally transform.
Using a Smart Factory system, all relevant data is aggregated, analyzed, and acted upon. Sensors, devices, people, and processes are part of a connected ecosystem providing:
• Reduced downtime
• Minimized surplus and defects • Deep insights
• End-to-end real-time visibility
Published By: Aberdeen
Published Date: Jun 17, 2011
Download this paper to learn the top strategies leading executives are using to take full advantage of the insight they receive from their business intelligence (BI) systems - and turn that insight into a competitive weapon.
Published By: Sage EMEA
Published Date: Jan 29, 2019
SagecommissionedForresterConsultingtoconducta TotalEconomicImpact™(TEI)studytoexaminethe potentialreturnoninvestment(ROI)organizationsmay realizebydeployingits Enterprise Management solutionas part of Sage Business Cloud.Thepurpose ofthisstudyistoprovidereaders withaframework to evaluatethepotentialfinancialimpactof Enterprise Managementwithintheir organizations. Tobetter understandthebenefits,costs,andrisks associatedwithaninvestmentinEnterprise Management,Forrester conducted in-depth interviews withtwoEnterprise Managementcustomers. For a brief description of each customer, see the Analysis section. According toSage,Enterprise Managementis an integratedand globalenterprise business management solution for purchasing, manufacturing, inventory, sales, customer service,and financial management. Formoredetails ontheEnterprise Management solution,seeAppendix A. For this TEI study, Forrester has created a compositeOrganizationto illustrate the quantifiable benefits and costs of investing i