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Using business analytics to improve outcomes.

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    Healthcare Financial Management : Journal of the Healthcare Financial Management Association
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    Summary

    Orlando Health improved revenue cycle management by implementing four customized analytics systems. These tools enhance physician performance, patient financial risk assessment, revenue management, and enterprise-wide information sharing for better financial balance.

    Area of Science:

    • Healthcare Management
    • Health Informatics
    • Financial Analytics

    Background:

    • Healthcare organizations face challenges in balancing hospital and physician practice revenue cycles.
    • Effective revenue cycle management is crucial for financial stability and operational efficiency.

    Purpose of the Study:

    • To describe Orlando Health's implementation of customized analytics to improve revenue cycle balance.
    • To detail the specific analytics used and their functions.

    Main Methods:

    • Implementation of four customized analytics sets: Physician Performance Analytics, Patient-Pay Analytics, Revenue Management Analytics, and Enterprise Management Analytics.
    • Physician performance analytics were used to gauge total net revenue per employed physician.
    • Patient-pay analytics provided financial risk scores for hospital and physician practice patients.

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    Main Results:

    • Achieved better balance between hospital and physician practice revenue cycle systems.
    • Enabled shared information about common patients across hospitals and physician practices.
    • Bridged communication gaps between central business offices and physician practice management.

    Conclusions:

    • Customized analytics are effective tools for optimizing healthcare revenue cycle management.
    • Integrated analytics improve financial performance and operational coordination within healthcare systems.