38 percent of respondents feel their current revenue cycle analytics do not meet the needs for driving change. Only 23 percent of respondents said they have effective solutions to develop advanced revenue cycle management.
Article
What you need to know about: implementing effective operational analytics throughout your revenue cycle operations
In a recent webinar, Revenue Cycle Innovation Center (RCIC) partners discussed easy to implement data extraction and visualization techniques available to provider organizations that could significantly improve operational visibility and employee productivity.
Attendees answered questions about their current data visualization and analytics tools.
See the results in the infographic.
Data visualization and analytics
Healthcare organizations must find ways to drive human error and variability out of standardized processes if they want to improve employee effectiveness and operational outcomes.
In order to take advantage of advanced analytics, revenue cycle management professionals should understand four basic components outlined below that are required to realize true actionable information:
- Granularity of data
- Data preparation
- Data visualization
- Guided discovery
62 percent of respondents said they feel their organization would benefit from improved and actionable revenue cycle analytic solutions.
Key takeaway
It is time for leadership to start thinking about implementing advanced analytics to improve employee and operational performance.
Questions about your current revenue cycle analytics? Visit bakertilly.com/rcminnovation for more information.
For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.
