Are You Utilizing Medical Practice Analytics?

Medical practice analytics—at first glance, it may remind some of “wheelhouse,” “bandwidth,” or other seemingly trendy, passing jargon within the business realm.

Like other catch phrases, there is something alluring in the term “medical practice analytics.” What many decision makers are beginning to understand, however, is that the allure of medical practice analytics within the health-related market is, and will continue to be, anything but passing.

In fact, in such a saturated industry, where being competitive is now a requirement along with knowing every facet of your operations, financial management, and customer satisfaction rates is essential rather than optional, the best medical practice analytics can give your business the edge over your competition

What Does Effective Medical Practice Analytics Look Like for Your Business?

Anyone can implement medical practice analytics—and many surgery-oriented and medical practices do. It’s not so much in the implementation of a data analytic process in which effectiveness misses the mark—it’s in understanding and customizing the data that propels your business through the competition, to the next level.

Medical Practice AnalyticsAs a decision maker of a business associated with orthopedics, ophthalmology, physical therapy, or any surgery-based practice, have you ever asked any of the following:

  • What are our surgical conversion rates?
  • Is the practice accurately budgeting financial performance?
  • What are our referral trends?
  • Is the practice billing properly and promptly collecting payments?

At Cross Current, we help businesses just like yours to answer all these questions and more by

aggregating data from multiple sources to enable enterprise-wide benchmarking. We use a variety of KPIs and data visualization techniques to leverage your existing data from Practice Management and EHR systems. We then combine complex data through Tableau’s advanced platform to deliver comprehensive analytic workbooks designed to:

  • Simplified ability to track progress and performance over specific periods of time
  • Quick access to comparable data (pinpointing best and over/under performers)
  • One-click filter correlation to view results and analyses
  • Specific identification of outliers or lassoing relevant data
  • Instant access to root cause and validation of findings
  • Diverse visualization of data in new ways (spatial charts, scattergrams, and dashboards)
  • Easily accessible provision of benchmark performance comparisons with national, practice, and specialty benchmarks, or budgets and performance targets

Our comprehensive data analytic workbooks consist of our Cross Current Visit Volume Analysis Workbook with built-in KPI’s to include: All Procedures and Unique Encounters. Our Exam Room Utilization workbook optimized to assist leadership in understanding and evaluating business growth and maximization of resources (including surgeons, physicians, and facilities.) We also offer insights into surgical volume trends, visit volume, and infinitely more data analytics.

Our ultimate goal is to ensure management has all metrics necessary to execute decisions to refine and improve every facet of your business operations.

Take Data Analytics for Healthcare to the Next Level

If we wanted to revert to trendy jargon, we could say it’s your time to “level up” in the effective use of medical practice analytics. Now, more than ever, to have a system of data analytics for healthcare that offers real-time, applicable, comprehensive, metrics with ease of use and that enables an optimized benchmarking system is to put your business ahead of the rest.

Our Cross Current experts are available anytime to discuss your medical practice analytics needs. To begin a conversation, click here, or give us a call, 267-454-2715.

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