Using Data to Drive Your Healthcare Business Decisions
By Joe Misner, VP of Development
The business of healthcare is constantly changing and growing, which is why healthcare organizations need reliable, trustworthy data that’s easily accessible in order to make smart decisions. At Zotec, we create technologies that are scalable and adaptable to the healthcare industry’s needs to improve quality and decrease costs. We have built an industry leading technology for this exact purpose called Comprehensive Zotec Analysis and Reporting (CZAR). Featuring an interactive dashboard with evolved decision support, it’s easy to use and provides near real-time data for clinicians and healthcare administrators. With CZAR, clinicians and healthcare executives deep insights into their data and can use that knowledge to drive improvement initiatives and make critical business decisions.
When you receive a report in your inbox from a data analyst or client support manager, do you download it to your desktop, print it out, and study it right away? Or, do you search for it in your inbox when you have time to review it? Maybe…or maybe not. We know clinicians need immediate access to their data in order to make decisions and tap into insights about their business. Having a platform that’s easily accessible and interactive is the best way to get what you need, when you need it. That’s exactly what CZAR does for our clients.
Data at your fingertips:
A good decision-support tool uses a variety of data metrics, but it also gives the user the ability to customize vantage points specific to their business. If the dashboard can report on 150 metrics, but the user only needs 50, the extra 100 metrics just clutter up the user’s ability to focus on what’s important. Data is also more useful for clinicians when it’s in real time, so they can follow up on why a medical encounter is outside a protocol instead of waiting for the denied claim weeks to months after the fact. Giving clinicians near real-time information about a patient’s episode of care makes it easier to intervene and provide a better patient financial experience. Finally, data must be reliable and trustworthy. If you don’t trust it, chances are you won’t use it.
Trends and Benchmarks:
Data trends and benchmarks show users where they’ve been and where they are going. If key performance indicators aren’t showing improvements on cost or quality metrics, clinicians need to know so they can change what isn’t effective. With the data provided in CZAR, healthcare organizations can immediately identify areas that are ripe for improvement. They are given the ability to view their data at a very granular level to see where the inefficiencies or opportunities may lie, whether that be in procedure trends, payer trends, referring-physician trends or elsewhere. Using CZAR, it’s easy to see whether mistakes are happening on the front or back ends to create an actionable plan that diverts inefficiencies and reduces denials.
Predictive Business Intelligence:
Predictive analytics gives healthcare organizations a keen understanding of the past to predict future behavior and allows them to model specific scenarios through simulation and forecasting. Working from a standard deviation, they can indicate the extent of trends, patterns, and/or inconsistencies—which, in return, allows them to influence future outcomes. In CZAR, we use a propensity to pay model to identify which patient population has the highest deductibles in order to adjust internal processes and collect more money up front. The end result is a reduction of days in accounts receivable to ensure clinicians are paid faster and more efficiently.
At Zotec, we drive innovation through data. With CZAR, leveraging data and accessing it is easy. As the company’s vice president of development, I know how important it is to give healthcare organizations insights into how they are performing, with ways to analyze their data. My team is always gathering feedback and driving technology innovation to help healthcare organizations thrive. It’s “the Zotec way.”
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