Most healthcare professionals understand that a wealth of opportunity is hidden in their data. But the investments required to implement an analytics platform can present significant challenges.
To help overcome this barrier, HORNE has invested in a best-in-class data analytics platform that gives providers access to transformative technology, without transformative costs.
From improving strategic planning, to helping you successfully transition to new payment models, to creating state-of-the-art capabilities in areas like cost transparency, we help you harness the power of analytics to achieve key business and financial objectives.
“Healthcare today is being driven by reduced margins and value-based reimbursement. Organizations that don’t have a strategy for managing data will not make this transition profitably. HORNE helps put you on the right path quickly, efficiently and seamlessly.”
Our Opportunity Analysis is a Pareto-type overview of your most promising — and urgent — areas for improvement. We process a defined dataset and quickly give you a snapshot of variations throughout your organization to show which ones have the greatest potential for immediate and substantial impact on your bottom line.
Waste Reduction Strategies
The ability to identify variation — what it is, when it occurs and why — is fundamental for healthcare process improvement. Our solutions help clearly pinpoint where you excel and identify areas of marginal or unprofitable performance. These insights empower you to adopt processes and protocols that reduce variation, improve quality and lower costs.
Value-Based Payment Model Support
To operate effectively in value-based payment programs, you must find ways to control costs and manage quality. HORNE Healthcare helps you understand sources of costs, as well as variations in cost and care across settings and providers. Analytics give you actionable insights to make strategic decisions regarding participation and enable you to monitor ongoing metrics.
General Ledger and Costing
Simple general ledger and financial statements aren’t enough to manage a dynamic organization. To improve financial performance at the cost center level, you need the ability to spot causes of variances against your budget and historical data. Our platform helps you analyze trends, perform drilldowns and visualize your key financial measures so you can develop explanations and take action.
Physician Compensation Plan Management
As reimbursement continues to move toward value-based and risk-sharing models, many organizations are challenged to design compensation plans to support the move. Our analytics platform automates provider compensation calculations and oversight. This creates time savings, benchmarking capabilities and transparency to help you better manage the increasingly complex compensation process.
Cash Flow Optimization
With the growth in high-deductible health plans, practices are at greater risk of uncollectible balances and delayed payment. With our tools, you quickly see the drivers of revenue cycle underperformance so you can prioritize solutions to the root causes behind your cash flow challenges.
Strategic Decision Support
Data is the new currency of business, and data analytics is emerging as the foundation for strategic decision-making. Why “go with your gut” when you can embrace analytics to make decisions that improve efficiency, risk management and profit? We can help you gather almost any financial, clinical or operational data and partner to create a plan for strategic growth and success.
A 2018 study by the University of California, San Francisco indicated that 27% of all hospital readmissions are preventable. The focus on reduced readmissions not only decreases revenues but also opens up a new area for potential risk. Our Readmission Analysis services help you:
- Reduce readmission penalties
- Drive down avoidable costs
- Improve patient well-being and experience
Bundling / Episode-Based Care Analysis
Episode-based Care poses two challenges to healthcare providers: First, it is inherently designed to reduce Medicare reimbursements. Second, the transition to this new model creates a potential for costly coding errors and reimbursement delays. HORNE Healthcare can provide you with a detailed projection of the expected impact of Episode-based Care and help develop strategies for optimizing your financial performance.
Improved profitability begins with establishing an accurate baseline of your current performance. HORNE Healthcare can help you create a user-friendly dashboard that enables you to monitor virtually any financial or operational performance indicator, such as Bad Debt, Uncompensated Care, Denials, Credit Balances, and Medicare and Medicaid reimbursements. By setting benchmarks and using industry best practices, we can then help you.