Value Proposition to Data Analytics in Healthcare Use Case
HANA.EXPERT helps clients to have profitable Healthcare Big Data, Security and IT projects. Our Healthcare clients have projects with Net Present Values – NPV of $16.1M - $38M.
A survey of HANA.EXPERT's Client CFOs concluded that the economics of analytics projects are self-evident. "You can only effectively manage what you measure. HANA.EXPERT also offers free Requirements Discovery Sessions that helped us get a clear path before making an investment." said a client's Chief Financial Officer. We have incorporated "Six Sigma" and Analytics into our organization to strategically advance defined, performance improvement outcomes. "Six Sigma" measures the capability of a process to perform defect-free work. "Six Sigma" is a rigorous analytical process for anticipating and solving problems. It is essentially based on three underlying facts - a) you can manage what you measure, b) you can measure what you can define, and c) you can define what you understand. The objective of "Six Sigma" is to improve profits through variability and defect reduction, yield improvement, improved consumer satisfaction and best-in-class product / process performance. The principal concepts of "SixSigma" are critical to quality (attributes that matter most to the customer), variation (what the customer sees and feels) and processes in control (giving a consistent product/process).
Healthcare organizations are reliant upon data, but are missing the enterprise information infrastructure required for organizing and reporting on the data. The challenges are mounting with increased regulatory requirements, greater need for industry benchmarking, and pay-for-performance initiatives. To drive the informed and actionable decisions required, a new paradigm for data aggregation, analysis and reporting across the enterprise is needed.
HANA.EXPERT's Strategic Deliverables to Healthcare:
HANA.EXPERT delivers innovative solutions based on best practices in enterprise performance management (EPM)—by integrating disparate data sources and business processes, while delivering on low cost for deployment and ownership.
Margin Growth - understanding underlying cost impact is essential to driving healthcare margins. Sustain and grow healthcare revenue and margin by optimizing profitability and lowering costs. We help by providing: Profitability modeling & management, Budgeting & forecasting, Exception & variance reporting, OpEx & CapEx planning, Financial close, Cost center & service line analysis.
Improve Care - Service line analysis is a focal point in reducing costs and repairing inefficiencies in healthcare operations. Deliver value and patient satisfaction in high quality, optimized healthcare service lines by rebalancing projects, workforce and resources based on market signals. Tools include: Project portfolio management, Price modeling, Pay-for-performance, Workforce planning, Buyer fill-rate analysis, and Drill-down analysis & data mining.
Improve Efficiency - Competition for customers is tougher than ever as specialty hospitals, surgery centers, and physician-owned facilities join the market. Achieve high operational performance and efficiency by reprioritizing initiatives and mitigating risk. Improve your Strategic planning, Integrated ad hoc reporting, Process automation, Operational planning & analysis, Activity-based management and ERP analytics.
Regulatory Compliance - Healthcare reform and government regulations bring increased reporting for safety and compliance. Drive accountable care that's aligned with industry and government requirements. Tools for Governance, compliance & accountability, Strategic scorecards, Data flow analysis, Global consolidations and Master data management.
Key Performance Indicators, KPIs for Healthcare Analytics include: Activity – Census, Beds, Encounters (Admissions, Visits, Discharges) - Financials – Revenue, Costs, Profit - Medical Staff – Utilization, Quality, Charts - Human Resources – Employees, Benefits, Utilization - Patient Care – Clinical Indicators, Patient Support, Serviced, Patient Safety - Payers – Profiles, Utilization, Performance - Quality – Key Indicators, Measures, Survey Results and Markets – Markets, Employers, Legal Issues.
For more information on the Free Requirements Discovery Sessions, please
The planning process starts with the identification of the company's core business goals. A scorecard is developed to measure the pre and post event scores against the participants' understanding, belief, or commitment to corporate goals such as innovation and continuous improvement. The Discovery Session helps to identify:
What the client think/know before the meeting?
What the client think/know after the meeting?
Where were the gaps and how could they be better addressed?