SANTA ROSA, Calif.--()--Traditionally, the top three financial challenges faced by many healthcare organizations have been inflation, Medicaid cuts, and payer mix. Today, these challenges are as large as ever, but there is a long list of new ones, including cost growth, uncompensated care, Medicare cuts, market consolidation, and data transparency.
“The results will be dramatic. Using the solution to deliver the pertinent metrics will greatly assist practice managers to increase revenue cycle efficiencies by making decisions based on the information. We anticipate increasing daily cash flow by approximately 24% by monitoring and reducing charge lags.”
The industry also continues to move toward more quality outcomes, disease population management, patient satisfaction, and preventive care. To achieve these goals, healthcare organizations must take two separate but related actions. First, they must integrate physician activities with the overall strategy of the healthcare organization. Then they must gain a clear understanding of how each physician’s performance supports the overall health system goals.
The Orlando Health Physicians Group (OHPG) has found an effective way to do both. It is an innovative approach that combines both hospital and physician data to create one common platform. This data can be merged to provide a complete picture of a physician’s revenue – from the Practice to the Hospital and vice-versa.
OHPG is using the VisiQuate business analytics platform and piloting a combined hospital and physician database that will let them view a complete financial picture for physician practices owned and operated by their healthcare organization. By merging revenue cycle financial information from the organization’s health information system and practice management system, administrators will be able to monitor the professional and technical revenue components of each physician’s practice. Each physician will recognize his or her full contribution to the organization because they have the ability to track and monitor the revenue generated for each case where they are the admitting physician.
OHPG will also soon offer a fully integrated business analytics solution, also within the VisiQuate platform, that will provide revenue cycle-driven dashboards, scorecards, and drill-down functionality to all physician practices with an emphasis on pushing intelligence via alerts and notifications to users. This web-based application gives practice managers the tools they need to manage and achieve daily performance measures.
By receiving necessary metrics on a periodic basis such as scheduling, charges (and associated RVU’s), payments, edits, and rejections in a friendly format, practice administrators and managers can achieve the revenue cycle goals of their practice. The financial viability of the practice can be maintained, while allowing the daily patient-flow activity of the practice to continue. According to Jose Rivera, Corporate Director Physician and Professional Services Central Business Office, “The results will be dramatic. Using the solution to deliver the pertinent metrics will greatly assist practice managers to increase revenue cycle efficiencies by making decisions based on the information. We anticipate increasing daily cash flow by approximately 24% by monitoring and reducing charge lags.”
As hospital and physician environments realize the value of aligning their strategies, it becomes increasingly important to see exactly how each can help the other achieve a shared set of goals. VisiQuate is proud to deliver solutions and services that make previously hard-to-see data clearly visible and easily actionable for healthcare organizations everywhere. As JK Kolmansberger, President and Co-Founder of VisiQuate, said, “OHPG is a huge force for good in their community. We’re happy to see that our efforts are helping them have even greater success in fulfilling their mission.”
About Orlando Health:
Orlando Health is a $1.7 billion, not-for-profit health care organization and a community-based network of hospitals and care centers in the Orlando region. The organization (which includes the area's only Level One Trauma Centers for adults and pediatrics) is a statutory teaching hospital system that offers both specialty and community hospitals. They are: Orlando Regional Medical Center; Arnold Palmer Hospital for Children; Winnie Palmer Hospital for Women & Babies; Dr. P. Phillips Hospital; South Seminole Hospital; South Lake Hospital (50% partnership); St. Cloud Regional Medical Center (20% partnership) and MD. Anderson Cancer Center Orlando - the first affiliate of one of the nation's premier cancer centers, The University of Texas M. D. Anderson Cancer Center in Houston. Orlando Health's areas of clinical excellence are heart and vascular, cancer care, neurosciences, surgery, pediatric orthopedics and sports medicine, neonatology and obstetrics and gynecology. Orlando Health is Central Florida's fifth largest employer with nearly 14,000 employees and more than 2,000 affiliated physicians, all of whom support our philosophy of providing high quality care and service when it matters most. We prove this everyday with over 100,000 inpatient admissions and more than 600,000 outpatient visits each year. In all, Orlando Health serves 1.6 million Central Florida residents and nearly 3,000 international patients annually. Additionally, Orlando Health provides approximately $198 million in support of community health needs. More information can be found at www.orlandohealth.com.
Founded in 2009, VisiQuate bridges the gap between Enterprise Performance Management & BI and bottom line results. The company’s complement of SaaS offerings help enterprises to simplify information assets, whether structured, unstructured, qualitative or quantitative, or all of the above, so they can gain greater clarity and better business insights. Recently, VisiQuate has added a fully personalized service offering that helps clients transform Business Intelligence into Business Action. Headquartered in Santa Rosa, CA, with offices in Pennsylvania and Tennessee, the rapidly-growing company currently serves clients in healthcare, financial services and commercial construction. More information can be found at www.visiquate.com.