Session ID: 
177

Using Service Line Analytics to Improve Outcomes and Margin

2:30pm - 3:30pm Wednesday, March 11
Orlando - Orange County Convention Center
W208C

Description

The inaccuracy of traditional methods to approximate costs makes it difficult to understand the true cost of care; therefore, understand the cost of providing services within healthcare. As a result, there is a poor understanding of whether revenue actually covers the cost of a medical condition and places providers at a disadvantage when negotiating with payers. Detailed operational, financial, and clinical information at the patient level is required to understand how these variations affect outcomes and margins. In this session, Phelps Health will share the process improvement project pathway used to implement a cost-analytics decision support tool. Through integrating financial, clinical, and operational data for each patient encounter, analyzing all costs from patient activities and services consumed during a care episode, Phelps Health was able to identify areas for operational and clinical process improvements. Specific examples of use cases will be presented demonstrating the return on investment (ROI) for these efforts.

Learning Objectives

  • Summarize the benefit of cost and margin analytics in a value-based healthcare economy
  • Identify resources to support a process improvement project that will drive change and compliance
  • Identify metrics that matter during data discovery that will provide actionable insights on analysis

Speaker(s)

Vice President and CFO,
Phelps Health
Vice President, Product Management, Customer Management and Implementation,
Craneware, Inc.

Continuing Education Credits

ABPM
1.00
ACHE
1.00
CAHIMS
1.00
CME
1.00
CNE
1.00
CPHIMS
1.00

Audience

CEO, COO
CIO/CTO/CTIO/Senior IT
Healthcare Financial Professionals

Level

Intermediate